MIRA
INFORM REPORT
|
Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
J G HOSIERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
58/1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
02.04.2001 |
|
|
|
|
Com. Reg. No.: |
18-009707 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 22.951 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TZ2001PTC009707 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Company is engaged in manufacture of men’s inner garments and mast of
the jobs are being done by resorting to out-sourcing. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 337000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade 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.
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 illfully 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 |
FITCH |
|
Rating |
Long Term Issuer Rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
12 Sept, 2014 |
|
|
|
|
Rating Agency Name |
FITCH |
|
Rating |
Non fund based working capital facilities = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
12 Sept, 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 DENIED BY
|
Name : |
Ms. Seeta |
|
Designation : |
Manager |
|
Contact No.: |
91-421-4327700 |
|
Date : |
15.09.2014 |
LOCATIONS
|
Registered Office : |
58/1, Solipalayam Road, 15 Velampalayam Tirupur-641607, Tamil Nadu,
India |
|
Tel. No.: |
91-421-4327700 |
|
Fax No.: |
91-421-4327701 / 4320701 |
|
Email : |
DIRECTORS
As on 17.09.2012
|
Name : |
Bishwanath Seksaria |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
CA-9, Salt Lake City, Kolkata – 700064, West Bengal, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.12.1946 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.04.2001 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AJVPS5644L |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00580782 |
||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Shyamsundar Seksaria |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
CA-9, Salt Lake City, Kolkata-700064, West Bengal, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.01.1948 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.04.2001 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ALTPS1164R |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00580741 |
||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Pankaj Seksaria |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
CA-9, Salt Lake City, Kolkata-700064, West Bengal, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.12.1972 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.04.2001 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AKOPS6316D |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00580808 |
||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
Name : |
Navin Seksaria |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
41, Aadhipra Sakthi, Koil Street, Tirupur-641607, Coimbatore,
Tamilnadu |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.06.1977 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.04.2001 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AKOPS6496C |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00578455 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Sandeep Seksaria |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
CA-9, Salt Lake City, Kolkata-700064, West Bengal, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.06.1975 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.04.2007 |
||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Seeta |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2013
|
Names of Shareholders |
No. of Shares |
|
Shyam Sundar Seksaria |
210000 |
|
Bishwanath Seksaria |
160000 |
|
Pankaj Seksaria |
200000 |
|
Sandeep Seksaria |
100000 |
|
Prabha Seksaria |
778000 |
|
Kusum Seksaria |
745000 |
|
Navin Seksaria |
4000 |
|
Bhagawati Prasad Poddar |
100 |
|
Parameswaridevi Seksaria |
10000 |
|
Shalini Seksaria |
4000 |
|
Neeru Seksaria |
4000 |
|
Bishwanath Seksaria (HUF) |
4000 |
|
Shyam Sundar Seksaria (HUF) |
4000 |
|
Jay Gee Industies (I) P Ltd. |
60000 |
|
Payal Seksaria |
4000 |
|
Pankaj Seksaria (HUF) |
2000 |
|
Sandeep Seksaria (HUF) |
2000 |
|
Navin Seksaria (HUF) |
4000 |
|
Total |
2295100 |
As on 17.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
2.61 |
|
Directors or relatives of Directors |
97.38 |
|
Other |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in manufacture of men’s inner garments and mast of
the jobs are being done by resorting to out-sourcing. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Indusind Bank, Coimbatore Branch, 652-656, Tristar
Towers, Avanashi Road, Coimbatore - 641037, Tamil Nadu, India ·
ICICI Bank Limited, 3A Gurusaday Road, 2nd
Floor, Kolkata-700019, West Bengal, India
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Krishnamoorthy and Company Chartered Accountant |
|
Address : |
Kanapathy Towers, 3rd Floor, 1391/A-1, Sathy Road Ganapathy
Po Coimbatore-641006, India |
|
|
|
|
Associates : |
JAY GEE INDUSTRIES (INDIA) PRIVATE LIMITED |
|
CIN No.: |
U29291WB1991PTC050939 |
CAPITAL STRUCTURE
As on 17.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Share |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2295100 |
Equity Share |
Rs.10/- each |
Rs.22.951
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 |
22.951 |
22.951 |
22.951 |
|
(b) Reserves & Surplus |
821.682 |
581.328 |
433.584 |
|
(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) |
844.633 |
604.279 |
456.535 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
470.036 |
443.768 |
467.627 |
|
(b) Deferred tax liabilities (Net) |
7.925 |
1.728 |
2.321 |
|
(c) Other long term liabilities |
17.243 |
13.163 |
0.495 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
495.204 |
458.659 |
470.443 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
921.579 |
527.603 |
489.972 |
|
(b) Trade payables |
435.402 |
376.577 |
532.753 |
|
(c) Other current
liabilities |
267.676 |
195.846 |
117.694 |
|
(d) Short-term provisions |
149.475 |
95.428 |
73.003 |
|
Total Current Liabilities (4) |
1774.132 |
1195.454 |
1213.422 |
|
|
|
|
|
|
TOTAL |
3113.969 |
2258.392 |
2140.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
450.234 |
100.646 |
77.663 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
34.802 |
238.655 |
100.732 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.283 |
0.011 |
0.003 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
40.919 |
44.404 |
4.515 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
531.238 |
383.716 |
182.913 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1477.785 |
1083.117 |
1269.078 |
|
(c) Trade receivables |
877.104 |
643.707 |
479.279 |
|
(d) Cash and cash
equivalents |
86.201 |
18.312 |
16.858 |
|
(e) Short-term loans and
advances |
141.641 |
129.540 |
192.272 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
2582.731 |
1874.676 |
1957.487 |
|
|
|
|
|
|
TOTAL |
3113.969 |
2258.392 |
2140.400 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6071.500 |
5185.300 |
4423.700 |
|
|
|
Other Income |
N.A |
N.A |
N.A |
|
|
|
TOTAL |
N.A |
N.A |
N.A |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
N.A |
N.A |
N.A |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
N.A |
218.300 |
219.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
N.A |
70.600 |
73.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
240.354 |
147.700 |
146.500 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
104.72 |
64.354 |
63.831 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Sales |
(%) |
5.89 |
2.85 |
3.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A |
11.64 |
11.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A |
0.36 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.65 |
1.61 |
2.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.57 |
1.61 |
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 |
22.951 |
22.951 |
22.951 |
|
Reserves & Surplus |
433.584 |
581.328 |
821.682 |
|
Net
worth |
456.535 |
604.279 |
844.633 |
|
|
|
|
|
|
long-term borrowings |
467.627 |
443.768 |
470.036 |
|
Short term borrowings |
489.972 |
527.603 |
921.579 |
|
Total
borrowings |
957.599 |
971.371 |
1391.615 |
|
Debt/Equity
ratio |
2.098 |
1.607 |
1.648 |
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 |
4423.700 |
5185.300 |
6071.500 |
|
|
|
17.216 |
17.091 |
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 |
4423.700 |
5185.300 |
6071.500 |
|
Profit |
146.500 |
147.700 |
240.354 |
|
|
3.31% |
2.85% |
3.96% |
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 |
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 |
Yes |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
No |
|
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 |
Yes |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10490326 |
20/03/2014 |
10,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, Guj |
C03824166 |
|
2 |
10388735 |
02/11/2012 |
18,500,000.00 |
Axis Bank
Limited |
Tirupur Branch, No
3 Court Street, Tirupur, Tamil |
B62864178 |
|
3 |
10339652 |
10/06/2013 * |
125,800,000.00 |
Axis Bank
Limited |
Tirupur Branch,
No 3 Court Street, TIRUPUR, Tamil |
B80835051 |
|
4 |
10337086 |
17/04/2014 * |
518,200,000.00 |
ICICI BANK
LIMITED |
3A GURUSADAY
ROAD, 2ND FLOOR, KOLKATA, West Benga |
C16756827 |
|
5 |
10313982 |
28/09/2011 |
70,000,000.00 |
Axis Bank
Limited |
Tirupur Branch,
No.3, Court Street, Tirupur, Tami |
B23862295 |
|
6 |
10305202 |
05/09/2011 |
9,900,000.00 |
Axis Bank
Limited |
No.3, Court
Street, Tirupur Branch, Tirupur, Tami |
B20028569 |
|
7 |
10261425 |
14/12/2010 |
60,000,000.00 |
Axis Bank
Limited |
Tirupur Branch,
Opp to Court, Court Road, Tirupur |
B02031573 |
|
8 |
10247703 |
18/10/2010 |
30,000,000.00 |
Axis Bank
Limited |
Tirupur Branch,
Opp Court, Court Road, Tirupur, T |
A98050677 |
|
9 |
10243071 |
09/09/2010 |
70,000,000.00 |
Axis Bank
Limited |
No 3 Court
Street, Opp to Court, Tirupur, Tamil N |
A95604773 |
|
10 |
10207771 |
30/03/2013 * |
117,000,000.00 |
State Bank of
India |
Specialized Commercial
Branch,, Stanes Road, Tiru |
B73387888 |
Note :
Registered office of the company has been
shifted from 39 1 OM SAKTHI KOLI STREET, KONGUNAGAR EXTENION, TIRUPUR- 641007, TAMIL
NADU, INDIA to the present address w.e.f
03.10.2012
UNSECURED LOANS
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from Banks |
0.164 |
0.784 |
|
Loans and advances from other |
121.735 |
118.029 |
|
Loans and advances from related parties |
215.971 |
217.382 |
|
|
|
|
|
Total |
337.870 |
336.195 |
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.60.95 |
|
|
1 |
Rs.78.96 |
|
Euro |
1 |
Rs.99.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.