MIRA INFORM REPORT
|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEWAGE FIRE FIGHTING COMPANY LIMITED (w.e.f 24.06.2010) |
|
|
|
|
Formerly Known
as : |
NEMINATH SOFTECH LIMITED |
|
|
|
|
Registered
Office : |
"NKB" House, Mehta Market, Surendranagar – 363001, Gujarat |
|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.07.1986 |
|
|
|
|
Com. Reg. No.: |
04-008773 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909GJ1986PLC008773 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN5691G |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of tubes or pipe fittings of iron or steel copper tubes or pipe aluminium tubes or pipe fittings etc. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
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 : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. External borrowing of the company is huge which act as a threat to
liquidity position of the company. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. The company can be considered for business dealings with some caution |
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 PARTED BY
Management Non-Cooperative
Contact No.:
LOCATIONS
|
Registered Office / Factory: |
"NKB" House, Mehta Market, Surendranagar – 363001, Gujarat, India |
|
Tel. No.: |
91-2752-660500/01 / 660506 |
|
Mobile No.: |
91-9825209089 (Mr. Jimit Shah / Mr. Sagar Shah) 91-9925063730 (Ms. Sujal Shah) |
|
Fax No.: |
91-2752-243463 |
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E-Mail : |
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Website : |
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Administration and
Head Office:: |
Ambavadi Industrial Estate, Surendranagar – 363001, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Hemant Shah |
|
Designation : |
Director |
|
Address : |
23, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
04.07.1986 |
|
DIN No. : |
00638532 |
|
|
|
|
Name : |
Ashokumar Shah |
|
Designation : |
Director |
|
Address : |
23, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
04.07.1986 |
|
DIN No. : |
00663023 |
|
|
|
|
Name : |
Jignesh Dinkarrai Shah |
|
Designation : |
Director |
|
Address : |
19, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
25.07.1995 |
|
DIN No. : |
00662385 |
|
|
|
|
Name : |
Maheshkumar Shah |
|
Designation : |
Director |
|
Address : |
23, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
04.07.2006 |
|
DIN No. : |
00638507 |
|
|
|
|
Name : |
Gunjan Shah Gunjan Shah |
|
Designation : |
Director |
|
Address : |
19, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
20.11.2006 |
|
DIN No. : |
00638552 |
|
Name : |
Jimit Maheshkumar Shah |
|
Designation : |
Director |
|
Address : |
23, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
20.11.2006 |
|
DIN No. : |
00662329 |
|
|
|
|
Name : |
Sagar Ashokkumar Shah |
|
Designation : |
Director |
|
Address : |
23, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
20.11.2006 |
|
DIN No. : |
00662344 |
|
|
|
|
Name : |
Ashmi Hemantkumar Shah |
|
Designation : |
Director |
|
Address : |
23, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
20.11.2006 |
|
DIN No. : |
00662366 |
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|
|
|
Name : |
Shetul Ashokkumar Shah |
|
Designation : |
Director |
|
Address : |
23, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
20.11.2006 |
|
DIN No. : |
00662977 |
|
|
|
|
Name : |
Sujal Hemantbhai Shah |
|
Designation : |
Director |
|
Address : |
23, Bharat Society, Jintan Road, Surendranagar – 363001, Gujarat, India |
|
Date of Appointment : |
18.07.2011 |
|
DIN No. : |
03576094 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Ashokbhai Shah |
111180 |
|
Jignesh Shah |
301180 |
|
Mahesh Shah |
53180 |
|
Hemantbhai Shah |
243180 |
|
Manjulaben Shah |
26400 |
|
Sarojben Shah |
26400 |
|
Harshaben Shah |
26400 |
|
Lattaben Shah |
26400 |
|
Pragnaben Shah |
26400 |
|
Gujan Shah |
26400 |
|
Swatiben Shah |
26400 |
|
Shruti Shah |
26400 |
|
Shetul Shah |
26400 |
|
Sujal Shah |
26400 |
|
Mahesh and Jignesh Shah partner of Nagindas Kasturchand and Brothers |
40 |
|
Ashok abnd Hemant Shah partner of Newage Industries |
20 |
|
Shetul and Sagar Shah partner of Newage Manufacturing Company |
20 |
|
Jimit Shah |
27200 |
|
Total |
1000000 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of tubes or pipe fittings of iron or steel copper tubes or pipe aluminium tubes or pipe fittings etc. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
The Kalupur Commercial Co-Operative Bank Limited |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Joshi Shah and Associates Chartered Accountants |
|
Address : |
A/1 Navdeep Appartment, Opp. Navjivan Press, Income Tax Road, Ahmedabad – 380014, Gujarat, India |
|
PAN No.: |
AAEFJ5646F |
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Associate : |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,00,000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 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 |
5.000 |
5.000 |
3.500 |
|
(b) Reserves & Surplus |
27.882 |
18.171 |
13.761 |
|
(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) |
32.882 |
23.171 |
17.261 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
108.256 |
112.951 |
67.665 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.073 |
0.209 |
|
(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) |
108.256 |
113.024 |
67.874 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
32.434 |
24.461 |
0.000 |
|
(b) Trade payables |
364.685 |
152.149 |
104.081 |
|
(c) Other current liabilities |
25.498 |
17.740 |
22.495 |
|
(d) Short-term provisions |
0.603 |
6.760 |
4.450 |
|
Total
Current Liabilities (4) |
423.220 |
201.110 |
131.026 |
|
|
|
|
|
|
TOTAL |
564.358 |
337.305 |
216.161 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
15.572 |
12.634 |
8.420 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
14.050 |
8.546 |
18.909 |
|
(c) Deferred tax assets (net) |
0.045 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
7.843 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
29.667 |
29.023 |
27.329 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
46.756 |
25.166 |
46.916 |
|
(c) Trade receivables |
303.966 |
208.053 |
105.872 |
|
(d) Cash and cash equivalents |
13.523 |
24.636 |
9.994 |
|
(e) Short-term loans and
advances |
161.321 |
43.720 |
21.126 |
|
(f) Other current assets |
9.125 |
6.707 |
4.924 |
|
Total
Current Assets |
534.691 |
308.282 |
188.832 |
|
|
|
|
|
|
TOTAL |
564.358 |
337.305 |
216.161 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1058.344 |
755.702 |
638.353 |
|
|
Other Income |
5.742 |
9.274 |
10.083 |
|
|
TOTAL
(A) |
1064.086 |
764.976 |
648.436 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
600.493 |
|
|
Purchases of Stock-in-Trade |
997.356 |
669.327 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(21.591) |
21.750 |
(18.728) |
|
|
Employees benefits expense |
6.692 |
3.402 |
5.758 |
|
|
Other expenditure |
46.213 |
47.234 |
45.586 |
|
|
TOTAL
(B) |
1028.670 |
741.713 |
633.109 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
35.416 |
23.263 |
15.327 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.010 |
14.835 |
4.399 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
17.406 |
8.428 |
10.928 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2.813 |
2.255 |
1.860 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
14.593 |
6.173 |
9.068 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
4.882 |
1.763 |
2.654 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
9.711 |
4.410 |
6.414 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
143.642 |
72.504 |
NA |
|
|
TOTAL
EARNINGS |
143.642 |
72.504 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
26.676 |
0.000 |
NA |
|
|
TOTAL
IMPORTS |
26.676 |
0.000 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
19.42 |
8.82 |
12.83 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.91 |
0.58 |
0.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.38 |
0.82 |
1.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.65 |
1.88 |
4.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44 |
0.27 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.28 |
5.93 |
3.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.53 |
1.44 |
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 |
3.500 |
5.000 |
5.000 |
|
Reserves & Surplus |
13.761 |
18.171 |
27.882 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
17.261 |
23.171 |
32.882 |
|
|
|
|
|
|
long-term borrowings |
67.665 |
112.951 |
108.256 |
|
Short term borrowings |
0.000 |
24.461 |
32.434 |
|
Total
borrowings |
67.665 |
137.412 |
140.690 |
|
Debt/Equity
ratio |
3.920 |
5.930 |
4.279 |
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 |
638.353 |
755.702 |
1058.344 |
|
|
|
18.383 |
40.048 |
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 |
638.353 |
755.702 |
1058.344 |
|
Profit |
6.414 |
4.410 |
9.711 |
|
|
1.00% |
0.58% |
0.92% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBTS : 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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
No |
|
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 |
No |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10489044 |
31/03/2014 |
3,648,000.00 |
THE KALUPUR
COMMERCIAL CO-OP. BANK LTD. |
THE KALUPUR
COMMERCIAL CO-OP. BANK LTD., NR. INCO |
C02949667 |
|
2 |
10469797 |
11/12/2013 |
26,000,000.00 |
THE KALUPUR
COMMERCIAL CO.OP. BANK LIMITED |
KALUPUR BANK
BHAVAN, NR.INCOME TAX CIRCLE, ASHRAM |
B93369080 |
|
3 |
10317379 |
31/10/2011 |
25,000,000.00 |
THE KALUPUR
COMMERCIAL CO-OPERATIVE BANK LTD. |
KALUPUR BANK
BHAVAN, NR INCOME TAX CIRCLE ASHRAM |
B25203092 |
|
4 |
10397247 |
05/10/2011 |
90,000,000.00 |
THE KALUPUR
COMMERCIAL CO.OP.BANK LIMITED |
KALUPUR BANK
BHAVAN, NR.INCOME TAX CIRCLE,ASHRAM |
B60761939 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances, others |
108.256 |
112.951 |
|
|
|
|
|
Total |
108.256 |
112.951 |
FINANCIAL RESULTS:
Particulars 2012-13 2011-12Sales and other Income 1064.086 Millions 764.976 Millions Total Expenditure 1028.670 Millions 741.712 Millions Profit Before Interest, depreciation & Tax 354.156 Millions 23.263 Millions Interest, Depreciation 20.823 Millions 17.089 Millions Profit Before Tax 14.592 Millions 6.173 Millions Provision For Income Tax, FBT & Def. Tax 4.881 Millions 1.763 Millions Profit After Tax 9.711 Millions 4.410 Millions.
NOTE :
The registered office of the company has been shifted from 62, Thakore
Baug, Near Mithakhali Six Road, Navarangpura Ahmedabad – 380009, Gujarat India
to the present address w.e.f. 06.12.2010.
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 records 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.61.22 |
|
|
1 |
Rs.98.52 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
34 |
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.