MIRA
INFORM REPORT
|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
K P SANGHVI INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
1301/03, Prasad Chambers, Opera House, Mumbai – 400004, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.10.1992 |
|
|
|
|
Com. Reg. No.: |
11-69038 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.910 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51398MH1992PLC069038 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK09459C MUMK11747B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADFK2611A AABCK2283K |
|
|
|
|
Legal Form : |
A closely held public limited
liability company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Diamonds |
|
|
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
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
|
Name : |
Mr. Nilesh |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-61122222 |
|
Date : |
20.09.2014 |
LOCATIONS
|
Registered Office : |
1301/03, Prasad Chambers, Opera House, Mumbai – 400004, Maharashtra,
India |
|
Tel. No.: |
91-22-23811450 / 23630315 |
|
Fax No.: |
91-22-23881478 / 23630813 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
GJ 04, Seepz, Andheri [East], Mumbai – 400004, |
|
Tel. No.: |
91-22-28291880 |
|
Fax No.: |
91-22-23630813 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Located at |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Babulal Poonamchand Sanghvi |
|
Designation : |
Director |
|
Address : |
Flat No. 41, Anupam, 4th Floor, |
|
Date of Birth/Age : |
09.09.1944 |
|
Date of Appointment : |
15.10.1992 |
|
DIN No.: |
00064096 |
|
|
|
|
Name : |
Mr. Kishore Hajarimal Sanghvi |
|
Designation : |
Director |
|
Address : |
4 B Swapnalok, |
|
Date of Birth/Age : |
20.09.1957 |
|
Date of Appointment : |
15.10.1992 |
|
DIN No.: |
00064014 |
|
|
|
|
Name : |
Mr. Kirti Hajarimal Sanghvi |
|
Designation : |
Director |
|
Address : |
Flat No. 301, Shanti Apartment, |
|
Date of Birth/Age : |
15.02..1959 |
|
Date of Appointment : |
15.10.1992 |
|
DIN No.: |
00064136 |
|
|
|
|
Name : |
Mr. Arvind Hajarimal Sanghvi |
|
Designation : |
Director |
|
Address : |
Flat No. 141, Kshitji, 14th Floor, 47, |
|
Date of Birth/Age : |
03.04.1965 |
|
Date of Appointment : |
15.10.1992 |
|
DIN No.: |
00063933 |
|
|
|
|
Name : |
Mr. Amrish Babulal Sanghvi |
|
Designation : |
Director |
|
Address : |
Flat No. 41, Anupam, 4th Floor, |
|
Date of Birth/Age : |
11.06.1973 |
|
Date of Appointment : |
15.10.1992 |
|
DIN No.: |
00063862 |
|
|
|
|
Name : |
Mr. Samir Babulal Sanghvi |
|
Designation : |
Director |
|
Address : |
Flat No. 41, Anupam, 4th Floor, |
|
Date of Birth/Age : |
18.05.1974 |
|
Date of Appointment : |
15.10.1992 |
|
DIN No.: |
00064229 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Babulal Poonamchand Sanghvi |
|
5 |
|
Kishore Hajarimal Sanghvi |
|
30960 |
|
Kirti Hajarimal Sanghvi |
|
5 |
|
Arvind Hajarimal Sanghvi |
|
5 |
|
Dilip Hajarimal Sanghvi |
|
5 |
|
Amrish Babulal Sanghvi |
|
5 |
|
Samir Babulal Sanghvi |
|
5 |
|
Hajarimal Anghvi Family Trust |
|
5 |
|
Babulal Sanghvi Family Trust |
|
5 |
|
Total |
|
31000 |
|
|
||
|
Preference Share
holder |
|
No. of Shares |
|
|
|
|
|
Mr. Arvind Hajarimal Sanghvi |
|
60000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Diamonds |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vipin and Company Chartered Accountants |
|
Address : |
Gomati Bhavan, Room No.1, Ground Floor, 27/E, Rangnekar Marg,
Chowpatty, Mumbai – 400007, Maharashtra, India |
|
Tel. No.: |
91-22-23672114 |
|
Mobile No.: |
91-9821167767 |
|
Fax No.: |
91-22-23672114 |
|
E-Mail : |
|
|
PAN No.: |
AAHPS8417J |
|
|
|
|
Associates/Subsidiaries : |
·
K P Sanghvi Incorporation, USA ·
K P Sanghvi HK Limited, Hong Kong ·
Meru Gems LLC, Dubai |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
|
800000 |
Preference shares |
Rs.10/- each |
Rs. 8.000 Millions |
|
|
Total |
|
Rs. 10.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31000 |
Equity Shares |
Rs.10/- each |
Rs. 0.310 Million
|
|
60000 |
Preference shares |
Rs.10/- each |
Rs. 0.600
Million |
|
|
Total |
|
Rs. 0.910 Million |
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 |
0.910 |
3.110 |
3.110 |
|
(b) Reserves & Surplus |
645.618 |
588.344 |
469.034 |
|
(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) |
646.528 |
591.454 |
472.144 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.461 |
|
(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) |
0.000 |
0.000 |
0.461 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
118.267 |
68.697 |
203.701 |
|
(c) Other current
liabilities |
12.906 |
6.238 |
0.492 |
|
(d) Short-term provisions |
6.700 |
5.980 |
2.372 |
|
Total Current Liabilities (4) |
137.873 |
80.915 |
206.565 |
|
|
|
|
|
|
TOTAL |
784.401 |
672.369 |
679.170 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
102.179 |
106.381 |
114.403 |
|
(ii) Intangible Assets |
0.989 |
0.801 |
1.049 |
|
(iii) Capital
work-in-progress |
2.027 |
2.977 |
1.924 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
60.022 |
60.022 |
75.974 |
|
(c) Deferred tax assets (net) |
2.316 |
2.479 |
0.000 |
|
(d) Long-term Loan and Advances |
31.114 |
23.782 |
0.258 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
198.647 |
196.442 |
193.608 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
39.579 |
0.000 |
|
(b) Inventories |
296.590 |
228.722 |
258.287 |
|
(c) Trade receivables |
238.245 |
178.211 |
200.283 |
|
(d) Cash and cash
equivalents |
23.585 |
11.377 |
10.811 |
|
(e) Short-term loans
and advances |
26.330 |
17.459 |
16.168 |
|
(f) Other current
assets |
1.004 |
0.579 |
0.013 |
|
Total Current Assets |
585.754 |
475.927 |
485.562 |
|
|
|
|
|
|
TOTAL |
784.401 |
672.369 |
679.170 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1229.963 |
731.130 |
828.017 |
|
|
|
Other Income |
10.434 |
2.365 |
1.508 |
|
|
|
TOTAL (A) |
1240.397 |
733.495 |
829.525 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
881.829 |
453.560 |
647.321 |
|
|
|
Purchases of Stock-in-Trade |
43.053 |
14.190 |
4.931 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(38.817) |
28.354 |
(46.150) |
|
|
|
Employees benefits expense |
49.883 |
29.259 |
9.200 |
|
|
|
Other expenses |
110.593 |
75.722 |
77.528 |
|
|
|
Exceptional expenses |
0.000 |
2.102 |
0.000 |
|
|
|
TOTAL (B) |
1046.541 |
603.187 |
692.830 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
193.856 |
130.308 |
136.695 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
193.856 |
130.308 |
136.695 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.260 |
13.787 |
14.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
180.596 |
116.521 |
121.756 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.523 |
(2.790) |
(0.219) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
150.073 |
119.311 |
121.975 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1239.847 |
727.729 |
827.886 |
|
|
TOTAL EARNINGS |
1239.847 |
727.729 |
827.886 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
123.317 |
111.182 |
382.865 |
|
|
|
Finished Goods |
43.053 |
14.161 |
4.877 |
|
|
|
Capital Goods |
3.807 |
1.190 |
3.892 |
|
|
|
Others |
0.523 |
1.016 |
1.390 |
|
|
TOTAL IMPORTS |
170.700 |
127.549 |
393.024 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4841.00 |
3849.00 |
3935.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
12.10 |
16.27 |
14.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.68 |
15.94 |
14.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.08 |
19.20 |
20.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.20 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.25 |
5.88 |
2.35 |
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 |
3.110 |
3.110 |
0.910 |
|
Reserves & Surplus |
469.034 |
588.344 |
645.618 |
|
Net worth |
472.144 |
591.454 |
646.528 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
828.017 |
731.130 |
1229.963 |
|
|
|
(11.701) |
68.228 |
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 |
828.017 |
731.130 |
1229.963 |
|
Profit |
121.975 |
119.311 |
150.073 |
|
|
14.73% |
16.32% |
12.20% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT – 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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
No |
|
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:
No Charges Exist for Company
OPERATIONS
The Company has achieved total sales turnover of Rs. 1240.400 Millions compared to 746.200 Millions in the preceding year registering overall growth of 66% in spite of difficult market conditions. The operating and other expenditure of the company was Rs. 1046.500 Millions. The current year operating profit of the company stood at Rs. 193.800 Millions as against Rs. 130.300 Millions for the corresponding previous year. The prices of basic raw materials like Gold, Diamonds etc. have increased significantly during the year and consumer preferences have also changed significantly due to ever increasing prices of gold. The Company has continued with its product mix and exported studded silver jewellery articles along with studded gold jewellery, keeping in line with the consumer preferences and global demands. The Company has taken various initiatives for marketing and sales promotion of its goods and is regularly updating its product range to cater to variety of customers in different market segments.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
The banking sector
has started exercising restraint while following prudent risk management norms
when lending money to gems and jewellery sector. This follows the
implementation of Basel III accord – a global voluntary regulatory standard on
bank capital adequacy, stress testing and market liquidity.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Electrical Fittings
·
Furniture and Fixtures
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 judgment 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.60.80 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JAY |
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 |
NO |
|
--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.