MIRA
INFORM REPORT
|
Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
MIL INDIA LIMITED |
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Formerly Known
As : |
MAZZINDIA PRIVATE LIMITED |
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Registered
Office : |
Unit No.3F/307, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.03.1986 |
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Com. Reg. No.: |
55-023524 |
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Capital Investment
/ Paid-up Capital : |
Rs. 9.570 Millions |
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CIN No.: [Company Identification
No.] |
U52111DL1986PLC023524 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM09121A DELM10638F |
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PAN No.: [Permanent Account No.] |
AACCM4710E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Machines of Different Product Ranges i.e.
Soap, Detergent and Fatty Acid. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1360000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 that 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.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-120-4766100)
LOCATIONS
|
Registered Office : |
Unit No.3F/307, Mamram East Plaza, Plot No.C-1 and 2, LSC Block G,
Kondli, Gharoli, New Delhi - 110096, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Operation Office/ Factory 1 : |
W-30/31/32A&B/53H, Sector II, Noida - 201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2536772/ 2536773/ 4766100 |
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Fax No.: |
91-120-2553342/ 2542103 |
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E-Mail : |
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Factory 2 : |
Plot No. 60-63, Sector 5, IIE Ranipur, BHEL, Haridwar, Uttaranchal,
India |
DIRECTORS
As on 25.08.2014
|
Name : |
Mr. Shridhar Krishnan |
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Designation : |
Chairman cum Managing Director |
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Address : |
C-45, Sector-33, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh,
India |
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Date of Birth/Age : |
25.12.1957 |
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Qualification : |
B. Sc. (Hons.) |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
00214754 |
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Other Directorship :
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Name : |
Mr. Sukh Ram Binyani |
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Designation : |
Whole Time Director |
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Address : |
C-700 Sarita Vihar, New Delhi – 110042, India |
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Date of Birth/Age : |
14.06.1953 |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
00105205 |
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Other Directorship :
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Name : |
Mr. Ram Mohan Subramanian |
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Designation : |
Whole Time Director |
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Address : |
C-53, Sector 34, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh,
India |
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Date of Birth/Age : |
27.02.1954 |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
00214985 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.08.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
K. S. Krishnan |
50000 |
5.22 |
|
Lalita Krishnan |
50000 |
5.22 |
|
Shridhar Krishnan |
516239 |
53.94 |
|
S. Ram Mohan |
2000 |
0.21 |
|
Shravan Krishnan |
500 |
0.05 |
|
Shruti Krishnan |
500 |
0.05 |
|
S. R. Binyani |
2000 |
0.21 |
|
Punam Krishnan |
335789 |
35.09 |
|
Total |
957028 |
100.00 |
As on 25.08.2014
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 Machines of Different Product Ranges i.e.
Soap, Detergent and Fatty Acid. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
· Canara Bank, Community Center, East of Kailash, New Delhi – 110065, India Canara Bank, 36-37, Community Centre, East of Kailash, New
Delhi - 110065, India · Small Industries Development Bank of India, SIDBI Tower, 15 Ashok Marg, Lucknow - 226001, Uttar Pradesh, India · HDFC Bank Limited |
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Facilities : |
NOTE LONG TERM
BORROWINGS Borrowings which are payable within 12 months after the Balance Sheet date are classified as Short term borrowings. Borrowing from SIDBI in addition to collateral security also secured by the personal guarantee of Managing Director Mr. Shridhar Krishnan. SHORT TERM BORROWINGS Borrowing from SIDBI are also secured by the personal
guarantee of Managing Director Mr. Shridhar Krishnan. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mishra Sahu Jain and Associates Chartered Accountants |
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Address : |
27, Akbar Road, New Delhi - 110011, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAJFM9630P |
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Relatives or Enterprises
of Key Management Personnel : |
Pangeaneering Services |
CAPITAL STRUCTURE
As on 25.08.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5200000 |
Equity Shares |
Rs.10/- each |
Rs. 52.000 Millions |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
957028 |
Equity Shares |
Rs.10/- each |
Rs. 9.570
millions |
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|
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 |
9.570 |
9.570 |
9.295 |
|
(b) Reserves & Surplus |
331.673 |
263.772 |
209.840 |
|
(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) |
341.243 |
273.342 |
219.135 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.966 |
10.319 |
10.875 |
|
(b) Deferred tax liabilities (Net) |
1.426 |
1.014 |
1.435 |
|
(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) |
9.392 |
11.333 |
12.310 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
42.655 |
20.447 |
41.863 |
|
(b) Trade payables |
66.110 |
53.239 |
62.285 |
|
(c) Other current liabilities |
156.968 |
160.514 |
123.365 |
|
(d) Short-term provisions |
56.715 |
51.130 |
27.182 |
|
Total Current Liabilities (4) |
322.448 |
285.330 |
254.695 |
|
|
|
|
|
|
TOTAL |
673.083 |
570.005 |
486.140 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
70.066 |
70.624 |
75.772 |
|
(ii) Intangible Assets |
4.499 |
6.295 |
2.659 |
|
(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 |
10.000 |
0.000 |
2.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.600 |
1.439 |
1.439 |
|
(e) Other Non-current assets |
0.000 |
36.667 |
45.563 |
|
Total Non-Current Assets |
86.165 |
115.025 |
127.933 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
167.157 |
131.265 |
115.562 |
|
(c) Trade receivables |
86.777 |
104.526 |
69.645 |
|
(d) Cash and cash
equivalents |
267.469 |
165.698 |
133.889 |
|
(e) Short-term loans and
advances |
60.161 |
51.648 |
37.366 |
|
(f) Other current assets |
5.354 |
1.843 |
1.745 |
|
Total Current Assets |
586.918 |
454.980 |
358.207 |
|
|
|
|
|
|
TOTAL |
673.083 |
570.005 |
486.140 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
784.412 |
615.689 |
438.693 |
|
|
|
Other Income |
36.250 |
29.716 |
25.741 |
|
|
|
TOTAL (A) |
820.662 |
645.405 |
464.434 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
445.346 |
288.203 |
245.381 |
|
|
|
Purchases of Stock-in-Trade |
3.055 |
69.055 |
16.992 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(27.556) |
(12.638) |
(24.071) |
|
|
|
Employees benefits expense |
121.566 |
105.454 |
86.893 |
|
|
|
Other expenses |
161.980 |
111.246 |
103.736 |
|
|
|
Exceptional Items - Amalgamation Expense |
0.000 |
0.761 |
0.000 |
|
|
|
TOTAL (B) |
704.391 |
562.081 |
428.931 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
116.271 |
83.324 |
35.503 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.378 |
5.663 |
5.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
110.893 |
77.661 |
29.521 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.874 |
11.713 |
9.658 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
99.019 |
65.948 |
19.863 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.921 |
13.535 |
4.902 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
79.098 |
52.413 |
14.961 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods and Services |
377.518 |
349.808 |
340.671 |
|
|
TOTAL EARNINGS |
377.518 |
349.808 |
340.671 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
2.662 |
14.787 |
|
|
TOTAL IMPORTS |
0.000 |
2.662 |
14.787 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
82.65 |
56.36 |
15.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
9.64 |
8.12 |
3.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.62 |
10.71 |
4.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.93 |
11.57 |
4.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.24 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15 |
0.11 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
1.59 |
1.41 |
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 |
9.295 |
9.570 |
9.570 |
|
Reserves & Surplus |
209.840 |
263.772 |
331.673 |
|
Net
worth |
219.135 |
273.342 |
341.243 |
|
|
|
|
|
|
long-term borrowings |
10.875 |
10.319 |
7.966 |
|
Short term borrowings |
41.863 |
20.447 |
42.655 |
|
Total
borrowings |
52.738 |
30.766 |
50.621 |
|
Debt/Equity
ratio |
0.241 |
0.113 |
0.148 |
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 |
438.693 |
615.689 |
784.412 |
|
|
|
40.346 |
27.404 |
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 |
438.693 |
615.689 |
784.412 |
|
Profit |
14.961 |
52.413 |
79.098 |
|
|
3.41% |
8.51% |
10.08% |
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 |
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 |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10428743 |
02/04/2013 |
1,800,000.00 |
CANARA BANK |
36-37, COMMUNITY CENTRE,, EAST OF KAILASH, NEW DELHI, DELHI - 110065, INDIA |
B76116227 |
|
2 |
10334492 |
19/01/2012 |
15,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
C-60,, SECTOR-2, NOIDA, UTTAR PRADESH - 201301, INDIA |
B31648322 |
|
3 |
10017326 |
21/08/2006 * |
145,880,800.00 |
CANARA BANK |
COMMUNITY CENTRE, EAST OF KAILASH, NEW DELHI, DELHI - 110065, INDIA |
A03680766 |
|
4 |
10090692 |
28/05/2008 * |
5,000,000.00 |
CANARA BANK |
COMMUNITY CENTER, EAST OF KAILASH, NEW DELHI, DELHI - 110065, INDIA |
A40022766 |
|
5 |
90064671 |
28/05/2008 * |
4,600,000.00 |
CANARA BANK |
COMMUNITY CENTER, EAST OF KAILASH, NEW DELHI, DELHI - 110065, INDIA |
A40023632 |
|
6 |
90064469 |
16/04/2007 * |
10,000,000.00 |
CANARA BANK |
COMMUNITY CENTER, EAST OF KAILASH, NEW DELHI, DELHI - 110065, INDIA |
- |
|
7 |
80000727 |
28/05/2008 * |
3,000,000.00 |
CANARA BANK |
COMMUNITY CENTER, EAST OF KAILASH, NEW DELHI, DELHI - 110065, INDIA |
A40023012 |
|
8 |
80000726 |
28/05/2008 * |
5,000,000.00 |
CANARA BANK |
COMMUNITY CENTER, EAST OF KAILASH, NEW DELHI, DELHI - 110065, INDIA |
A40067720 |
|
9 |
90064325 |
04/06/2002 |
177,800.00 |
CANARA BANK |
EAST OF KAILASH, NEW DELHI, DELHI, INDIA |
- |
* Date of charge modification
CHANGE OF ADDRESS
The Registered Office of the company has been shifted from House No.41, Pocket
Asarita Vihar, New Delhi – 110049, Delhi, India to the present address w.e.f.
01.04.2008.
GENERAL INFORMATION
Subject was incorporated on March04,1986 under the provisions of the Companies Act,1956. It commenced its business operation in th eyear 1986. The business activities of the Company is manufacturing of equipments for soaps, detergent, fatty acid and glycerine. The registered office of the Company is situated at Kondli Gharoli, Mayur Vihar Phase-III, Delhi and the manufacturing facilities are situated at Noida in the state of Uttar Pradesh and Haridwar in the state of Uttarakhand.
Uttarakhandunitisenjoyingtaxholidayundertheprovisionofsection80ICoftheIncome Tax Act, 1961.
REVIEW OF
CURRENT YEAR PERFORMANCE:
The Company achieved a Total Revenue of Rs. 820.662 Millions with Total Sales of Rs. 784.412 Millions. as compared with the previous Financial Year (FY 2012-2013) the Total Income achieved corresponds to an increase by ~27%.
Thus, it is a matter of satisfaction to note that the Company has achieved more than the total targeted revenue of Rs. 800.000 Millions set for the current Financial Year (FY 2013-14)
The Company achieved a Profit Before Tax for the current Financial Year (FY 2013- 2014) of Rs. 99.019 Millions (which is a substantial increase from Rs. 66.709 Millions achieved in the previous Financial Year FY 2012-2013).
The Company earned a Profit After Tax (PAT) of Rs. 79.098 Millions during the current Financial Year (FY 2013-2014) against Rs. 52.413 Millions in the previous Financial Year (FY 2012-2013).
FIXED ASSETS
Tangible Assets
· Leasehold Land
Buildings
and Roads
Plants
and Machinery
Furniture
and Fixtures
Vehicles
Computers
Intangible Assets
· Computer Software
Patents
and Trademarks
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 Financil
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.60.84 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.