MIRA INFORM REPORT
|
Report No. : |
316452 |
|
Report Date : |
08.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
FOURESS ENGINEERING (INDIA) LIMITED |
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|
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Formerly Known
As : |
FOURESS ENGINEERING (INDIA) PRIVATE LIMITED |
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Registered
Office : |
Mahalaxmi Chambers, 8th Floor, 22, Bhulabhai Desai Road,
Mumbai – 400026, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
25.06.1971 |
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Com. Reg. No.: |
11-015196 |
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Capital
Investment / Paid-up Capital : |
Rs.75.000
Million |
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|
|
CIN No.: [Company Identification
No.] |
U74210MH1971PLC015196 |
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|
|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF00095E |
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PAN No.: [Permanent Account No.] |
AAACF5897K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Carbon steel industrial valves. |
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|
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No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is the flagship company of the FOURESS GROUP of companies. It
is an established company having satisfactory track record. Profitability of the company has declined during 2014. However, the rating takes into consideration company’s established track
record of business operations in carbon steel industrial valves segment
marked by sound financial base and adequate liquidity profile of the company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. The company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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. Ravi Raju |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-23534400 |
|
Date : |
07.04.2015 |
LOCATIONS
|
Registered / Chairman Office : |
Mahalaxmi Chambers, 8th Floor, 22, Bhulabhai Desai Road, Mumbai
– 400026, Maharashtra, India |
|
Tel. No.: |
91-22-24964400 / 05 /
06 / 23534400-05 |
|
Fax No.: |
91-22-23517544 / 24937544 |
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E-Mail : |
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Website: |
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Area : |
4800 Sq. Fts. |
|
Location : |
Owned |
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Factory 1 : |
Plot No. A-324, Road No. 21, Wagle Industrial Estate, Thane - 400604,
Maharashtra, India |
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Tel. No.: |
91-22-25823755/ 25823602/ 25814613 |
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Fax No.: |
91-22-25823603 |
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E-Mail : |
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Area : |
4 acres land and plant area 48000 Sq. fts |
|
Location: |
Owned |
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Factory 2 : |
Peenya Industrial Estate, Plot No. 2, Phase II, Bangalore
- 560058, Karnataka, India |
|
Tel. No.: |
91-80-28395734-8 |
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Fax No.: |
91-80-28395175-6 |
|
E-Mail : |
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Area : |
4 acres land and plant area 48000 Sq. Fts. |
|
Location: |
Owned |
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Factory 3 : |
C-2, MIDC Industrial Estate, Paithan, Aurangabad – 431148,
Maharashtra, India |
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Tel. No.: |
91-2431-232074/ 232376 |
|
Fax No.: |
91-2431-232058 |
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E-Mail : |
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Area : |
4 acres land and plant area 48000 Sq. Fts. |
|
Location: |
Owned |
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|
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Sales Office : |
8, A.J.C., Bose Road, Circular Court, 6th Floor, Kolkata - 700017,
West Bengal, India |
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|
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Overseas Office : |
14252 Culver Dr. Suite A-207, Irvine CA 92604, USA |
|
Tel. No.: |
1- 9499813981 |
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E-Mail : |
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City Office: |
13, Sameer Apartment, Ahimsa Nagar, Opposite Akashwani, Aurangabad -
431005, India |
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Tell No.: |
91-2431-232191/ 232191/ 232191/ 232376/ 232075/ 233385 |
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Fax No.: |
91-2431-232058 |
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Branch Office : |
Located at
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Regional Representatives : |
Located at
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DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Sameer Sadanand Shetty |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
11-D, IL Palazzo, Little Gibbs Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
24.06.1970 |
|
Qualification : |
B.A (Physics),
M.S (Operation and Research) |
|
Date of Appointment : |
26.10.1998 |
|
PAN No.: |
AAIPS2479M |
|
DIN No.: |
01306426 |
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|
|
|
Name : |
Mrs. Smita Hari Prasad Shetty |
|
Designation : |
Managing director |
|
Address : |
777, 100 Feet Road, Hal II Stage, Indira Nagar, Bangalore – 560008,
Karnataka, India |
|
Date of Birth/Age : |
01.12.1956 |
|
Qualification : |
B.A |
|
Date of Appointment : |
26.10.1998 |
|
PAN No.: |
AAEPS3694N |
|
DIN No.: |
01872542 |
|
|
|
|
Name : |
Mrs. Sucharita Ramcrishna Hegde |
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Designation : |
Director |
|
Address : |
4th Floor, Suraiya Apartments, Pochkhanwala Road, Worli,
Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1958 |
|
Qualification : |
M.M.A (Finance) |
|
Date of Appointment : |
12.09.1998 |
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PAN No.: |
AAAPH4233L |
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DIN No.: |
01284570 |
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|
|
|
Name : |
Farrokh Sorab Broacha |
|
Designation : |
Director |
|
Address : |
Skylark, 4th Floor, Little Gibbs Road, Malabar Hill, Mumbai
– 400006, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1938 |
|
Date of Appointment : |
30.03.1989 |
|
DIN No.: |
00198990 |
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|
|
|
Name : |
Mr. S Paramasivan |
|
Designation : |
Director |
|
Address : |
85, Plot no. 6, Versova, Venus Cooperative Housing Society, SVP Nagar,
Versova, Andheri – 400053, Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
20.05.1957 |
|
Date of Appointment : |
26.10.1998 |
|
DIN No.: |
00058445 |
|
|
|
|
Name : |
Mr. A. A. Majmudar |
|
Designation : |
Director |
|
Address : |
Bliss, 727, 6th B, Cross, III Block, Koramangala, Bangalore
– 560034, Karnataka, India |
|
Date of Birth/Age : |
12.12.1945 |
|
Date of Appointment : |
26.10.1998 |
|
DIN No.: |
00586436 |
KEY EXECUTIVES
|
Name : |
S. V Satam |
|
Designation : |
Secretary |
|
Address : |
B05, Sohini, Apartments, Datta Manndir road, Vakola, Santacruz (East),
Mumbai – 400055, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1957 |
|
Date of Appointment : |
07.06.1982 |
|
PAN no. : |
ABBPS3043B |
MAJOR SHAREHOLDERS
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Soumyalatha S. Shetty |
|
393900 |
|
Smita H. Shetty |
|
88392 |
|
Sucharita R. Hegde |
|
88392 |
|
Sameer S. Shetty |
|
129132 |
|
Shreeram H. Shetty |
|
18780 |
|
Priyadarshini H. Shetty |
|
6300 |
|
Rithvik R. Hegde |
|
18780 |
|
Tanushree R. Hegde |
|
6300 |
|
Fouress Marketing ITL Private Limited, India |
|
24 |
|
Total |
|
750000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
%20LIMITED%20-%20316452_MIRA%2008-Apr-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Carbon steel industrial valves. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Industrial Valve |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash, Advance Payment and Credit (30/60/90 Days) |
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Purchasing : |
Cash, Advance Payment and Credit (30/60/90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
J.R. Jain and Company Chartered Accountants |
|
Address : |
Sheel Chambers,
10 Cawasji Patel Street Fort, Mumbai, Maharashtra, India |
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PAN No.: |
AAAPJ8951D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have significant influence
of or are partners with Key management personnel and their relatives : |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.100/- each |
Rs.75.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
75.000 |
75.000 |
75.000 |
|
(b) Reserves & Surplus |
268.524 |
248.002 |
197.512 |
|
(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) |
343.524 |
323.002 |
272.512 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
39.534 |
62.147 |
63.361 |
|
(b) Deferred tax liabilities
(Net) |
6.297 |
7.417 |
7.826 |
|
(c) Other long term
liabilities |
96.893 |
87.963 |
26.985 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
142.724 |
157.527 |
98.172 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
111.337 |
115.130 |
105.691 |
|
(b) Trade payables |
407.639 |
387.993 |
435.459 |
|
(c) Other current liabilities |
204.651 |
150.116 |
323.992 |
|
(d) Short-term provisions |
23.820 |
34.713 |
22.578 |
|
Total
Current Liabilities (4) |
747.447 |
687.952 |
887.720 |
|
|
|
|
|
|
TOTAL |
1233.695 |
1168.481 |
1258.404 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
219.439 |
237.624 |
214.128 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2.001 |
3.618 |
11.466 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.889 |
7.149 |
2.889 |
|
(c) Deferred tax assets (net) |
4.577 |
2.897 |
2.027 |
|
(d) Long-term Loan and Advances |
30.127 |
29.636 |
30.082 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
259.033 |
280.924 |
260.592 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
58.464 |
29.666 |
4.260 |
|
(b) Inventories |
347.284 |
314.234 |
463.015 |
|
(c) Trade receivables |
476.033 |
479.502 |
433.907 |
|
(d) Cash and cash equivalents |
39.572 |
27.532 |
32.918 |
|
(e) Short-term loans and
advances |
53.309 |
36.623 |
63.712 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
974.662 |
887.557 |
997.812 |
|
|
|
|
|
|
TOTAL |
1233.695 |
1168.481 |
1258.404 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1625.052 |
1947.256 |
1679.261 |
|
|
Other Income |
13.546 |
10.194 |
15.772 |
|
|
TOTAL
(A) |
1638.598 |
1957.450 |
1695.033 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
993.926 |
1140.492 |
1110.675 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(56.318) |
69.338 |
(65.213) |
|
|
Employees benefits expense |
276.141 |
258.520 |
244.306 |
|
|
Other expenses |
329.717 |
358.233 |
319.818 |
|
|
Exceptional Item |
3.382 |
0.578 |
1.274 |
|
|
Extraordinary item before tax |
0.116 |
0.000 |
0.000 |
|
|
TOTAL
(B) |
1546.964 |
1827.161 |
1610.860 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
91.634 |
130.289 |
84.173 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.523 |
29.870 |
23.860 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
68.111 |
100.419 |
60.313 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
31.364 |
30.693 |
23.061 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
36.747 |
69.726 |
37.252 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
16.226 |
19.234 |
10.010 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
20.521 |
50.492 |
27.242 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
27.360 |
67.320 |
36.320 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1800.000 (Due to market
down) |
|
|
|
|
|
The above information has been parted by Mr. Ravi Raju
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.26 |
2.59 |
1.62 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
5.64 |
6.69 |
5.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.00 |
6.04 |
3.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.22 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.44 |
0.55 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.29 |
1.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
75.000 |
75.000 |
75.000 |
|
Reserves & Surplus |
197.512 |
248.002 |
268.524 |
|
Net
worth |
272.512 |
323.002 |
343.524 |
|
|
|
|
|
|
long-term borrowings |
63.361 |
62.147 |
39.534 |
|
Short term borrowings |
105.691 |
115.130 |
111.337 |
|
Total
borrowings |
169.052 |
177.277 |
150.871 |
|
Debt/Equity
ratio |
0.620 |
0.549 |
0.439 |
%20LIMITED%20-%20316452_MIRA%2008-Apr-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1679.261 |
1947.256 |
1625.052 |
|
|
|
15.959 |
(16.547) |
%20LIMITED%20-%20316452_MIRA%2008-Apr-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1679.261 |
1947.256 |
1625.052 |
|
Profit |
27.242 |
50.492 |
20.521 |
|
|
1.62% |
2.59% |
1.26% |
%20LIMITED%20-%20316452_MIRA%2008-Apr-2015_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
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 |
Yes |
|
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) |
Yes |
|
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 |
OPERATIONS
The Company Sales turnover decreased by 16% over the previous year i.e. from of Rs. 1947.300 Million to Rs.1625.100 Million in the current year.
The slowing down of the economy and delays in the customers projects have severely impacted the sales during the current year.
PROSPECTS
The order book position continued to be good and the Company, with the change in the Government, is hopeful that many of the projects which were stuck for the last one year will resume the implementations. The pending order position as on 31.07.2014 was more than Rs.2350.000 Million which can be considered satisfactory. The Company is confident of executing all these orders as per the need dates of the customers and expects to do well during the current year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Other loans and advances |
2.379 |
2.379 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand |
5.012 |
(0.044) |
|
Loans and advances from others |
12.870 |
10.700 |
|
|
|
|
|
Total |
20.261 |
13.035 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10314309 |
18/04/2012 * |
65,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,
THE ARCADE, 2ND FLOOR, |
B41183815 |
|
2 |
10059645 |
13/03/2015 * |
939,300,000.00 |
State Bank Of India |
Industrial Finance
Branch, The Arcade,2nd floor,, |
C48771620 |
|
3 |
90367224 |
25/07/1996 |
560,000,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
4 |
90367109 |
10/01/1992 |
15,000,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
5 |
90366996 |
16/12/1988 |
6,400,000.00 |
INDUSTRIAL RECONSTRUCTION OF INDIA |
NARIMAN POINT, BOMBAY, Maharashtra, INDIA |
- |
|
6 |
90366479 |
25/07/1975 |
700,000.00 |
STATE BANK OF INDIA |
PEDDER ROAD, BOMBAY, Maharashtra, INDIA |
- |
|
7 |
90366478 |
21/07/1975 |
400,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
8 |
90366446 |
06/03/1974 |
1,300,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
9 |
90366384 |
05/07/1972 |
250,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
10 |
90366363 |
05/07/1971 |
250,000.00 |
STATE BANK OF INDIA |
PEDDER ROAD, BOMBAY, Maharashtra, INDIA |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.62.33 |
|
|
1 |
Rs.92.83 |
|
Euro |
1 |
Rs.68.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
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 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.