MIRA
INFORM REPORT
|
Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PATEL BRASS WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Bhakti Nagar Station Plot, |
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|
Country : |
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|
Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
01.10.2010 |
|
|
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|
Com. Reg. No.: |
04-062509 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 25.550 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27202GJ2010PTC062509 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Bimetal and Trimetal Bearings |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Not Available |
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Comments : |
Subject was established in the year 1948 as proprietary concern with
the name M/s Patel Brass Works (PBW) and converted to a partnership firm in 1953
and subsequently to a private limited company w.e.f October 1, 2010. It is an established company having satisfactory track record. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities (BBB)
|
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk |
|
Date |
July 24, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (A3) |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk |
|
Date |
July 24, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Chetan Patel |
|
Designation : |
Account Officer |
|
Contact No.: |
91-281-2461771 |
|
Date : |
09.09.2014 |
LOCATIONS
|
Registered Office : |
2, Bhakti Nagar Station Plot, Rajkot – 360002, Gujrat, India |
|
Tel. No.: |
91-281-2461771 |
|
Fax No.: |
91-281-2461771 |
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E-Mail : |
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Website : |
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Factory : |
Located At : ·
GIDC, Rajkot – 360003, Gujarat, India ·
No. 12 AD and 12A/1, GDIC Bhakti Nagar, Rajkot,
Gujarat, India |
DIRECTORS
AS ON 17.05.2014
|
Name : |
Mr. Rameshchandra Ravjibhai Patel |
|
Designation : |
Whole-time Director |
|
Address : |
Anand – 2, Janakalyan Society, Plot No. 14, Rajkot – 360001, Gujrat,
India |
|
Date of Birth/Age : |
03.04.1950 |
|
Date of Appointment : |
01.08.2014 |
|
DIN No. : |
00337908 |
|
|
|
|
Name : |
Mr. Maheshbhai Ravjibhai Patel |
|
Designation : |
Whole-time Director |
|
Address : |
Avakar 5 Astron Co. Op. Housing Society, Plot No. 132, Rajkot –
360001, Gujarat, India |
|
Date of Birth/Age : |
19.06.1961 |
|
Date of Appointment : |
01.08.2014 |
|
DIN No. : |
03156715 |
|
|
|
|
Name : |
Mr. Nareshbhai Ravjibhai Patel |
|
Designation : |
Managing Director |
|
Address : |
Shivalaya, 45 Astron Co-Operative Housing Society, Rajkot – 360001,
Gujarat, India |
|
Date of Birth/Age : |
11.07.1965 |
|
Date of Appointment : |
01.08.2014 |
|
DIN No. : |
01330735 |
|
|
|
|
Name : |
Ms. Kiranben Rameshbhai Pater |
|
Designation : |
Whole-time Director |
|
Address : |
Anand – 2, Janakalyan Society, Plot No. 14, Rajkot – 360001, Gujrat,
India |
|
Date of Birth/Age : |
13.07.1969 |
|
Date of Appointment : |
01.08.2014 |
|
DIN No. : |
03156708 |
|
|
|
|
Name : |
Ms. Hiralben Rameshbhai Patel |
|
Designation : |
Whole-time Director |
|
Address : |
Anand – 2, Janakalyan Society, Plot No. 14, Rajkot – 360001, Gujrat,
India |
|
Date of Birth/Age : |
23.04.1980 |
|
Date of Appointment : |
01.08.2014 |
|
DIN No. : |
03008640 |
|
|
|
|
Name : |
Mr. Anand Maheshbhai Patel |
|
Designation : |
Whole-time Director |
|
Address : |
Avkar 5, Astron Co-Op. Housing Society, Plot No. 132, Rajkot – 360001,
Gujarat, India |
|
Date of Birth/Age : |
10.08.1985 |
|
Date of Appointment : |
01.08.2014 |
|
DIN No. : |
03008422 |
|
|
|
|
Name : |
Mr. Shivraj Nareshkumar Patel |
|
Designation : |
Director |
|
Address : |
Shivalaya, 45 Astron Co-Operative Housing Society, Rajkot – 360001, Gujarat,
India |
|
Date of Birth/Age : |
02.11.1993 |
|
Date of Appointment : |
01.08.2014 |
|
DIN No. : |
05130337 |
KEY EXECUTIVES
|
Name : |
Mr. Chetan Patel |
|
Designation : |
Account Officer |
MAJOR SHAREHOLDERS
As on 17.05.2014
|
Names of Shareholders |
No. of Shares |
|
Ramesh Ravjibhai Patel |
320000 |
|
Mahesh Ravjibhai Patel |
315000 |
|
Naresh Ravjibhai Patel |
515000 |
|
Deepa Maheshbhai patel |
225000 |
|
Shalini Naresh Patel |
200000 |
|
Kiran Rameshbhai Patel |
125000 |
|
Parul Sailesh Patel |
75000 |
|
Ketu Anilbhai Patel |
75000 |
|
Hiral Rameshbhai Patel |
75000 |
|
Anand Mahash Patel |
150000 |
|
Savitaben Ramesh Patel |
175000 |
|
Neha Anand Patel |
75000 |
|
Parita Maheshbhai Patel |
75000 |
|
Shivangi Naresh Patel |
75000 |
|
Soham Naresh Patel |
75000 |
|
Shivraj Naresh Patel |
5000 |
|
Total |
2555000 |
As on 17.05.2014
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 : |
Manufacturing of Bimetal and Trimetal Bearings |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) |
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Bankers : |
·
Corporation Bank, Nijanand, Dhebar Road, Rajkot –
360001, Gujarat, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
H.P. Mehta and Company Chartered Accountants |
|
Address : |
28 – 29/C, Ushakiran Apartments, Sardar Nagar Main Road, Rajkot –
360002, Gujarat, India |
|
Tel. No.: |
91-281-2480326 |
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E-Mail : |
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PAN No.: |
AADFH8247B |
CAPITAL STRUCTURE
As on 17.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2555000 |
Equity Shares |
Rs.10/- each |
Rs. 25.550 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 |
25.550 |
25.550 |
25.550 |
|
(b) Reserves &
Surplus |
65.473 |
60.232 |
35.626 |
|
(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) |
91.023 |
85.782 |
61.176 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
664.188 |
661.909 |
641.833 |
|
(b) Deferred tax
liabilities (Net) |
9.593 |
8.158 |
4.518 |
|
(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) |
673.781 |
670.067 |
646.351 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
150.527 |
147.539 |
97.697 |
|
(b) Trade payables |
25.380 |
35.282 |
31.259 |
|
(c) Other current
liabilities |
6.423 |
19.050 |
10.129 |
|
(d) Short-term provisions |
68.144 |
22.423 |
30.554 |
|
Total Current Liabilities
(4) |
250.474 |
224.294 |
169.639 |
|
|
|
|
|
|
TOTAL |
1015.278 |
980.143 |
877.166 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
712.913 |
720.065 |
637.603 |
|
(ii) Intangible Assets |
0.092 |
0.122 |
0.057 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
30.615 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.315 |
9.558 |
2.566 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
719.320 |
729.745 |
670.841 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
71.578 |
60.521 |
53.222 |
|
(c) Trade receivables |
186.404 |
157.128 |
106.975 |
|
(d) Cash and cash
equivalents |
3.322 |
3.550 |
3.072 |
|
(e) Short-term loans and
advances |
34.531 |
28.994 |
42.770 |
|
(f) Other current assets |
0.123 |
0.205 |
0.286 |
|
Total Current Assets |
295.958 |
250.398 |
206.325 |
|
|
|
|
|
|
TOTAL |
1015.278 |
980.143 |
877.166 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
TOTAL |
616.182 |
550.574 |
545.150 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
541.362 |
499.905 |
485.119 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
74.820 |
50.669 |
60.031 |
|
|
|
|
|
|
|
Less |
TAX |
26.235 |
18.591 |
27.285 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
48.585 |
32.078 |
32.746 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
4.950 |
3.210 |
2.456 |
|
|
Distributed as Dividend |
37.047 |
6.387 |
5.110 |
|
|
Distribution Tax on
Dividend |
6.296 |
1.085 |
0.828 |
|
|
Total (M) |
48.293 |
10.682 |
8.394 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
0.292 |
21.396 |
24.352 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
330.030 |
253.578 |
328.922 |
|
|
TOTAL EARNINGS |
330.030 |
253.578 |
328.922 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
23.361 |
20.601 |
|
|
|
Capital Goods |
3.149 |
11.055 |
|
|
|
Other Items |
0.109 |
0.068 |
|
|
|
TOTAL IMPORTS |
26.619 |
31.724 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
19.02 |
12.55 |
12.82 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
7.88 |
5.83 |
6.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.37 |
5.17 |
7.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.82 |
0.59 |
0.98 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.95 |
9.44 |
12.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.12 |
1.22 |
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 |
25.550 |
25.550 |
25.550 |
|
Reserves & Surplus |
35.626 |
60.232 |
65.473 |
|
Net worth |
61.176 |
85.782 |
91.023 |
|
|
|
|
|
|
long-term borrowings |
641.833 |
661.909 |
664.188 |
|
Short term borrowings |
97.697 |
147.539 |
150.527 |
|
Total borrowings |
739.530 |
809.448 |
814.715 |
|
Debt/Equity ratio |
12.089 |
9.436 |
8.951 |
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 |
545.150 |
550.574 |
616.182 |
|
|
|
0.995 |
11.916 |
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 |
545.150 |
550.574 |
616.182 |
|
Profit |
32.746 |
32.078 |
48.585 |
|
|
6.01% |
5.83% |
7.88% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of
employees |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
Yes |
|
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 |
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 |
FINANCIAL
PARAMETERS:
This is the Fourth consecutive year of the company in which the dividend is declared for the share holder. The Share holder are getting the appropriate liquidate amount for their investment. The eye catching progress of the company is reflected in figures presented in the table of financial parameter. The increase in total income of the company grasp the level of 616.182 Millions, simultaneously there is increase in total expenses also. However profit of the company is reached to 48.585 Millions for the year ended on 31st March 2014.
OVERVIEW AND FUTURE
OUTLOOK OF THE COMPANY
The Indian Economy slowdown is persisting for last couple of years continued in the year ended on 31" March 2014. The adverse scenario is also witnessed from the figures and
Statistics of world economy. In spite of reverse position of economy, the company can able to boost its turnover in comparisons of previous year.
The Company recognizes the importance of investment and has accordingly invested in appropriate processes, people and a management structure. The Construction of phase of Metoda, Dist: Rajkot was completed during the year with investment of 148.35 Lacs. Further during current year the company also invested Rs. 267.25 Lacs in Plant and Machinery at Bhaktinagar phase.
The company consider its responsibility towards society as inner sense of duty. The Company has constantly endeavoured to take forward the best practices to enhance the development of society. The Company has incurred expenditure of Rs. 5.996 Millions during the year towards donations and charity. In this way company try to compensate its obligation toward society.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10246785 |
18/10/2012 * |
110,000,000.00 |
CORPORATION BANK |
NIJANAND, DHEBAR
ROAD, RAJKOT, Gujarat - 360001, |
B61467189 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
664.188 |
661.094 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
52.009 |
52.450 |
|
Total |
716.197 |
713.544 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Electrification
·
Motor Car
·
Comm. Vehicle
·
Computer Systems
·
Energy saving Device
·
R and D Machinery
·
Canteen Equipment
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. 60.82 |
|
|
1 |
Rs. 98.14 |
|
Euro |
1 |
Rs. 78.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.