MIRA
INFORM REPORT
|
Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
MASIBUS AUTOMATION AND INSTRUMENTATION PRIVATE LIMITED (w.e.f.
15.12.2005) |
|
|
|
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Formerly Known
As : |
Masibus Process Instruments Private Limited |
|
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Registered
Office : |
B-30, G. I. D. C. Electronics Estate,
Sector-25, Gandhinagar -
382042, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
21.09.1987 |
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|
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|
Com. Reg. No.: |
04-009994 |
|
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|
|
Capital
Investment/ Paid-up Capital: |
Rs.26.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32201GJ1987PTC009994 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM9906A |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
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|
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|
Line of Business
: |
Manufacturer of Instrumentation Control Equipments and Pumps. |
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|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 710000 |
|
|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject was established as a partnership concern started in the year
1975. Subsequently it was reconstituted as a private limited company in 1987. It is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB+ |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligations |
|
Date |
06.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Minimal degree of Safety and very high credit risk. |
|
Date |
06.01.2014 |
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. Manish Mathur |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-79-23287275 |
|
Date : |
29.09.2014 |
LOCATIONS
|
Registered Office /Factory : |
B-30, G. I. D. C. Electronics Estate,
Sector-25, Gandhinagar -
382042, Gujarat, India |
|
Tel. No.: |
91-79-23287275/ 23287276/ 23287277-79/ 23242950/ 49/ 14/ 13 |
|
Mobile No.: |
91-9898586924 (Mr. Sanjeev Chakraborty) |
|
Fax No.: |
91-79-23287281-82/ 23242888/ 89 |
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E-Mail : |
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Website : |
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Area : |
10000 sq. ft. |
|
Location : |
Owned |
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Resident Operations : |
Located at: · Bangalore · Bhopal · Hyderabad · Lucknow · Pune · Surat |
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Area Offices : |
Located at: · Ahmedabad · Chennai · Kolkata · Mumbai · Vadodara |
DIRECTORS
AS ON 19.09.2014
|
Name : |
Mr. Subramaniam Krishnamurthy |
|
Designation : |
Managing Director |
|
Address : |
415/1, Sector 29, Gandhinagar – 382 029, |
|
Date of Birth/Age : |
06.01.1950 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
21.09.1987 |
|
DIN No.: |
00022552 |
|
|
|
|
Name : |
Ms. Vidya Subramaniam |
|
Designation : |
Director |
|
Address : |
415/1, Sector 29, Gandhinagar – 382 029, |
|
Date of Birth/Age : |
20.02.1958 |
|
Qualification : |
Post Graduate, Diploma in HRM |
|
Date of Appointment : |
09.09.1994 |
|
DIN No.: |
00022694 |
|
|
|
|
Name : |
Mr. Hasmukh Ugrchand Gadhecha |
|
Designation : |
Director |
|
Address : |
21 Pratima Co-op Housing Society, Near Dadasaheb S Pagala,
Navrangpura, Ahmedabad – 380 009, Gujarat, India |
|
Date of Birth/Age : |
13.06.1962 |
|
Qualification : |
Electrical Engineer |
|
Date of Appointment : |
02.04.1990 |
|
DIN No.: |
00017856 |
|
Name : |
Mr. Domnic Joseph Cordeiro |
|
Designation : |
Director |
|
Address : |
Z/3, Lakeview Appartments, Vastrpur GAM, Ahmedabad - 380015, Gujarat,
India |
|
Date of Birth/Age : |
12.08.1956 |
|
Qualification : |
Electric Engineer |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
00022731 |
|
Name : |
Mr. Sohrab Bezun Daver |
|
Designation : |
Director |
|
Address: |
C/404, |
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Date of Birth/Age : |
22.09.1950 |
|
|
Electric Engineer |
|
Date of Appointment : |
21.05.2005 |
|
DIN No.: |
00022664 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.09.2014
|
Names of Shareholders |
No. of Shares |
|
K. Subramanian |
984000 |
|
Lata Shah |
70000 |
|
Gaurav Gadhecha |
101920 |
|
Sunadan Subramaninam |
73500 |
|
Ashwin Subramaninam |
73500 |
|
Vidhya Subramanian |
664000 |
|
Surendra Shah |
50000 |
|
Manan Shah |
47000 |
|
H U Gadhecha (HUF) |
210080 |
|
K Suramanian (HUF) |
25000 |
|
Hasmuk U Gadhecha |
130000 |
|
D J Cordeiro |
156000 |
|
Arohi S Shah |
5000 |
|
S.S. Shah (HUF) |
5000 |
|
Manan S Shah (HUF) |
5000 |
|
|
|
|
Total |
2600000 |
AS ON 19.09.2014
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
91.92 |
|
Other top fifty (50) shareholders |
8.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Instrumentation Control Equipments and Pumps. |
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Products : |
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GENERAL INFORMATION
|
Customers : |
·
Avantegarde ·
Holcim ·
Mecon ·
Bharat Aluminium Company Limited ·
Essar Steel Limited ·
Hindustan Zinc Limited ·
Hindalco ·
Jindal Stainless Limited ·
Steel Authority of (India) Limited ·
TATA Steel ·
Vedanta ·
Visakhapatnam Steel Plant ·
JSW Steel and Power Limited ·
PGCIL ·
The Tata Power Company Limited ·
Atul Limited ·
Gujarat Alkalies and Chemicals ·
Ambuja Cement Limited ·
Utratech Cement Limited ·
Atul Limited ·
Gulbrandsen Chemicals Private Limited ·
Cairn ·
ONGC ·
Elgi Equipments Limited ·
Larsen and Toubro Limited ·
ABB Limited ·
Easun Reyrolle Limited ·
Aventis Pharma Limited ·
Torrent Pharmaceuticals Limited |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227, D, Nariman Point Branch, Mumbai - 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
A K Shah And Associates Chartered Accountant |
|
Address : |
423, Super Mall, Near Lal Bungalow C G Road, Ahmedabad – 380009,
Gujarat, India |
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PAN No.: |
ADBPS7234G |
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Subsidiaries : |
·
Masibus automation
and instrumentation FZC, Sharjah
|
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Substantial Common Shareholder : |
·
Masibus Electronics Private Limited |
CAPITAL STRUCTURE
AS ON 19.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,600,000 |
Equity Shares |
Rs.10/- each |
Rs. 26.000
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 |
26.000 |
26.000 |
26.000 |
|
(b) Reserves & Surplus |
150.534 |
120.887 |
97.987 |
|
(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) |
176.534 |
146.887 |
123.987 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
22.804 |
8.971 |
18.118 |
|
(b) Deferred tax liabilities
(Net) |
1.640 |
0.826 |
0.835 |
|
(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) |
24.444 |
9.797 |
18.953 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
70.833 |
58.552 |
68.548 |
|
(b) Trade payables |
61.339 |
38.957 |
46.090 |
|
(c) Other current liabilities |
22.776 |
15.636 |
37.560 |
|
(d) Short-term provisions |
12.713 |
7.804 |
6.475 |
|
Total
Current Liabilities (4) |
167.661 |
120.949 |
158.673 |
|
|
|
|
|
|
TOTAL |
368.639 |
277.633 |
301.613 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
72.622 |
29.121 |
27.826 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
2.202 |
|
(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 |
2.827 |
2.827 |
2.859 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
75.449 |
31.948 |
32.887 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
71.680 |
78.006 |
85.697 |
|
(c) Trade receivables |
146.945 |
112.564 |
134.908 |
|
(d) Cash and cash equivalents |
59.552 |
25.054 |
23.518 |
|
(e) Short-term loans and
advances |
9.100 |
9.659 |
15.523 |
|
(f) Other current assets |
5.913 |
20.402 |
9.080 |
|
Total
Current Assets |
293.190 |
245.685 |
268.726 |
|
|
|
|
|
|
TOTAL |
368.639 |
277.633 |
301.613 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Gross Sales and Other Income |
451.700 |
441.430 |
375.771 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
402.732 |
398.287 |
361.640 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
48.968 |
43.143 |
14.131 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.381 |
4.995 |
4.179 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
46.587 |
38.148 |
9.952 |
|
|
|
|
|
|
|
Less |
TAX |
10.896 |
10.716 |
1.850 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
35.691 |
27.432 |
8.102 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.299 |
23.400 |
18.300 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
30.000 |
30.000 |
0.000 |
|
|
Dividend |
5.200 |
3.900 |
2.600 |
|
|
Tax on Dividend |
0.844 |
0.633 |
0.402 |
|
|
Total
(M) |
36.044 |
34.533 |
3.002 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
15.946 |
16.299 |
23.400 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
25.926 |
18.448 |
8.394 |
|
|
TOTAL
EARNINGS |
25.926 |
18.448 |
8.394 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
127.592 |
104.915 |
93.353 |
|
|
TOTAL
IMPORTS |
127.592 |
104.915 |
93.353 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
13.73 |
10.55 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
7.90 |
6.21 |
2.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.74 |
13.88 |
3.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.26 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.53 |
0.46 |
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
2.03 |
1.69 |
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 |
26.000 |
26.000 |
26.000 |
|
Reserves & Surplus |
97.987 |
120.887 |
150.534 |
|
Net
worth |
123.987 |
146.887 |
176.534 |
|
|
|
|
|
|
long-term borrowings |
18.118 |
8.971 |
22.804 |
|
Short term borrowings |
68.548 |
58.552 |
70.833 |
|
Total
borrowings |
86.666 |
67.523 |
93.637 |
|
Debt/Equity
ratio |
0.699 |
0.460 |
0.530 |
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 |
375.771 |
441.430 |
451.700 |
|
|
|
17.473 |
2.327 |
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 |
375.771 |
441.430 |
451.700 |
|
Profit/(Loss) After Tax |
8.102 |
27.432 |
35.691 |
|
|
2.16% |
6.21% |
7.90% |
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 |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
Yes |
|
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 |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10134441 |
20/01/2014 * |
201,000,000.00 |
KOTAK MAHINDRA BANK
LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D, NARIMAN POINT,, M |
B98825243 |
|
2 |
90113205 |
11/08/2003 |
180,000.00 |
ICICI BANK
LIMITED |
LANDMARK, RACE
COURSE CIRCLE, VADODARA, GUJARAT - |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Long term borrowing |
20.104 |
5.386 |
|
Deposits from directors |
2.700 |
0.000 |
|
Deposits from Shareholders |
0.000 |
1.475 |
|
Deposits from others |
0.000 |
2.110 |
|
|
|
|
|
Total |
22.804 |
8.971 |
PERFORMANCE REVIEW:
The Income of the Company has increased from 441.430 Millions to Rs.451.700 Millions compared to previous year, The net profit after tax has increased from Rs. 27.432 Millions to 35.691 Millions compared to previous year.
FURTHER PLAN OF
ACTION:-
They have an action plan to come out with following products in coming year i.e. vibration switch in ex. proof enclosure, loop powered vibration transmitter, upgrade in flow totalizer, 85xx +, GPS, CE marking for selected products, extension of calibrator series and gate way products.
OVERVIEW:
The past years have seen a Consolidation !i,) of the Company's Position and Strength as a provider of complete engineering solutions in its chosen fields. This has be'en the result of concerted and (~sy; tematic efforts in several areas: (a) re'structuring and re-organisation (b) technology acquisition (c) business alliances __(d) enhancement of operation efficiency through IT and HR practices .
The focus on strength, particularly in their engineering fields, and on ways to enhance the productivity of the funds
engaged in businesses, will help the Company face the volatile economic environment in the future.
Fixed assets:
· Land
·
· Plant and Machinery
· Office Equipments
· Vehiclesa
· Furniture and Fixture
· Fax
· Computer Software
· EPABX Systems
· Electric Fittings
· Air Conditioners
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Their
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
44 |
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.