MIRA INFORM REPORT
|
Report No. : |
317709.2 |
|
Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
IDL EXPLOSIVES LIMITED |
|
|
|
|
Registered
Office : |
Kukatpally, P. B. No. 1, Sanatnagar (IE), Hyderabad – 500018, Telangana |
|
Tel. No.: |
91-40-23702830 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.09.2010 |
|
|
|
|
Com. Reg. No.: |
36-070529 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.25.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28132TG2010PLC070529 |
|
|
|
|
IEC No.: |
911005242 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDI03086G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCI4429C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Industrial Explosives. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 410000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The subject is an established company having a satisfactory track
record. It is a subsidiary of Gulf Oil Corporation Limited. The company has reported decent profitability during the financial
year 2013-14 against loss in the previous financial year. The overall financial position of the company seems to be decent.
Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be
considered for business dealing at usual trade terms 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term: Cash credit limits= BBB (SO) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
February, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term: Non-fund based limits= A3+ (SO) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
February, 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
|
Name : |
Mr. R. Sreenivas |
|
Designation : |
Joint General Manager – Finance |
|
Contact No.: |
91-40-23810671 |
|
Date : |
16.04.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Kukatpally, P. B. No. 1, Sanatnagar (IE), Hyderabad – 500018, Telangana, India |
|
Tel. No.: |
91-40-23702830 / 23810671 |
|
Fax No.: |
91-40-23700772 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 12.09.2014
|
Name : |
Mr. Subhas Pramanik |
|
Designation : |
Managing Director |
|
Address : |
Plot No: 14, Naturoville, Survey No: 210,, Near Kendriya Vidyalaya,
Bolarum, Yapral, Secunderabad – 500087, Andhra Pradesh, India |
|
Date of Birth/Age : |
28.09.1949 |
|
Date of Appointment : |
22.09.2010 |
|
DIN No.: |
00020414 |
|
|
|
|
Name : |
Mr. Kanchan Uday Chitale |
|
Designation : |
Director |
|
Address : |
167/C, Poonawadi, Dr. Ambedkar Road, Dadar, Mumbai – 400014, Maharashtra,
India |
|
Date of Birth/Age : |
19.12.1952 |
|
Date of Appointment : |
26.06.2014 |
|
DIN No.: |
00007267 |
|
|
|
|
Name : |
Mr. Venkata Subramanian |
|
Designation : |
Director |
|
Address : |
D4/D5, Ashok Swetha, 173, Avvai Shanmugam Road, Royapettah, Chennai –
600014, Tamil Nadu, India |
|
Date of Birth/Age : |
14.04.1938 |
|
Date of Appointment : |
29.03.2011 |
|
DIN No.: |
00007392 |
|
|
|
|
Name : |
Mr. Biswanath Pan |
|
Designation : |
Director |
|
Address : |
Fe 143, Salt Lake Sector - III, Kolkata – 700091, West Bengal, India |
|
Date of Birth/Age : |
01.09.1943 |
|
Date of Appointment : |
12.09.2014 |
|
DIN No.: |
00565040 |
|
|
|
|
Name : |
Mr. Tamal Tarun Das |
|
Designation : |
Director |
|
Address : |
H No 1-19-71/A11/303 Kalyan Plaza Rukmini Kapra, Dr. A S Rao Nagar
Ranga Reddy, Hyderabad – 500062, Andhra Pradesh, India |
|
Date of Birth/Age : |
09.01.1961 |
|
Date of Appointment : |
22.09.2010 |
|
DIN No.: |
01224431 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi Jain |
|
Designation : |
Secretary |
|
Address : |
444, Rabindra Sarani, Kolkata – 700005, West Bengal, India |
|
Date of Appointment : |
20.09.2012 |
|
PAN No.: |
ACWPJ0839J |
MAJOR SHAREHOLDERS
AS ON 12.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Gulf Oil Corporation Limited (GOCL), India |
|
49994 |
|
Subhas Pramanik (Nominee of GOCL) |
|
1 |
|
Tamal Tarun Das (Nominee of GOCL) |
|
1 |
|
R. S. Deshmukh (Nominee of GOCL) |
|
1 |
|
A. Satyanarayana Nominee of GOCL |
|
1 |
|
P. S. Murthy (Nominee of GOCL) |
|
1 |
|
A. D. Sao (Nominee of GOCL) |
|
1 |
|
|
|
|
|
Total |
|
50000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Gulf Oil Corporation Limited (GOCL), India |
|
249000 |
|
|
|
|
|
Total |
|
249000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 12.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
%2017-Apr-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Explosives. |
|
|
|
|
Products : |
Industrial Explosives |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
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Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
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Selling : |
Cash, Credit |
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|
|
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
Bank of India, Hyderabad, Telangana, India |
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Facilities : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Bengal Intelligent Park, Building Alpha, 1st Floor, Block- EP and GP, Sector -V, Salt Lake Electronics Complex, Kolkata – 700091, West Bengal, India |
|
PAN No.: |
AADFD5357J |
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|
|
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Collaborators : |
Not Divulged |
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|
|
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Membership : |
Not Divulged |
|
|
|
|
Holding Company : |
· Gulf Oil Corporation Limited |
|
|
|
|
Fellow Subsidiaries
: |
· IDL Buildware Limited · Gulf Carosserie India Limited · Gulf Oil Lubricants India Limited (formerly known as Hinduja Infrastructure Limited) · HGHL Holding Limited · Gulf Oil Bangladesh Limited (upto 31st December 2013) · PT Gulf Oil Lubricants Indonesia (upto 31st December 2013) · Gulf Oil (Yantai) Limited, China (upto 31st December 2013) |
CAPITAL STRUCTURE
AS ON 12.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6510000 |
Equity Shares |
Rs.10/- each |
Rs.65.100 Million |
|
249000 |
Preference Shares |
Rs.100/- each |
Rs.24.900 Million |
|
|
|
|
|
|
|
Total |
|
Rs.90.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
249000 |
Preference Shares |
Rs.100/- each |
Rs.24.900 Million |
|
|
|
|
|
|
|
Total |
|
Rs.25.400
Million |
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 |
25.400 |
25.400 |
25.400 |
|
(b) Reserves & Surplus |
118.482 |
75.369 |
99.825 |
|
(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) |
143.882 |
100.769 |
125.225 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
199.717 |
0.000 |
20.932 |
|
(b) Deferred tax liabilities (Net) |
5.919 |
0.000 |
7.741 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
24.827 |
33.133 |
46.268 |
|
Total Non-current
Liabilities (3) |
230.463 |
33.133 |
74.941 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
344.695 |
676.444 |
1040.556 |
|
(b) Trade
payables |
450.490 |
300.828 |
351.981 |
|
(c) Other
current liabilities |
121.969 |
56.749 |
94.228 |
|
(d) Short-term
provisions |
26.214 |
36.215 |
23.282 |
|
Total Current
Liabilities (4) |
943.368 |
1070.236 |
1510.047 |
|
|
|
|
|
|
TOTAL |
1317.713 |
1204.138 |
1710.213 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
289.159 |
261.468 |
233.978 |
|
(ii)
Intangible Assets |
15.594 |
18.791 |
22.433 |
|
(iii)
Capital work-in-progress |
8.820 |
38.397 |
51.736 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.953 |
0.000 |
|
(d) Long-term Loan and Advances |
9.910 |
11.778 |
23.559 |
|
(e) Other
Non-current assets |
1.442 |
0.076 |
1.640 |
|
Total Non-Current
Assets |
324.930 |
331.468 |
333.351 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
259.363 |
299.793 |
480.635 |
|
(c) Trade
receivables |
512.531 |
397.930 |
547.655 |
|
(d) Cash
and cash equivalents |
86.305 |
57.015 |
149.937 |
|
(e) Short-term
loans and advances |
133.694 |
116.627 |
197.603 |
|
(f) Other
current assets |
0.890 |
1.305 |
1.032 |
|
Total
Current Assets |
992.783 |
872.670 |
1376.862 |
|
|
|
|
|
|
TOTAL |
1317.713 |
1204.138 |
1710.213 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2585.655 |
2206.155 |
2545.334 |
|
|
|
|
Other Income |
13.799 |
5.507 |
3.639 |
|
|
|
|
TOTAL (A) |
2599.454 |
2211.662 |
2548.973 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1544.974 |
1243.034 |
1573.838 |
|
|
|
|
Purchase of Stock-in-trade |
179.248 |
233.956 |
363.119 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and stock-in-trade |
10.515 |
9.935 |
(36.262) |
|
|
|
|
Employee Benefits Expenses |
200.830 |
217.461 |
215.372 |
|
|
|
|
Other Expenses |
508.211 |
427.710 |
470.769 |
|
|
|
|
TOTAL (B) |
2443.778 |
2132.096 |
2586.836 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
155.676 |
79.566 |
(37.863) |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
80.064 |
88.519 |
68.751 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
75.612 |
(8.953) |
(106.614) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
25.627 |
24.197 |
22.614 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
49.985 |
(33.150) |
(129.228) |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
6.872 |
(8.694) |
(2.184) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
43.113 |
(24.456) |
(127.044) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN FOREIGN
CURRENCY |
133.466 |
108.426 |
39.211 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
257.754 |
257.763 |
928.591 |
|
|
|
|
Stores & Spares |
0.000 |
3.384 |
15.953 |
|
|
|
|
Capital Goods |
0.000 |
1.178 |
19.275 |
|
|
|
TOTAL IMPORTS |
257.754 |
262.325 |
963.819 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
804.00 |
(547.38) |
(2590.22) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.67 |
(1.11) |
(4.99) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.02 |
3.61 |
(1.49) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
3.82 |
(2.85) |
(7.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
(0.33) |
(1.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.78 |
6.71 |
8.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
0.82 |
0.91 |
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 |
25.400 |
25.400 |
25.400 |
|
Reserves & Surplus |
99.825 |
75.369 |
118.482 |
|
Net
worth |
125.225 |
100.769 |
143.882 |
|
|
|
|
|
|
long-term borrowings |
20.932 |
0.000 |
199.717 |
|
Short term borrowings |
1040.556 |
676.444 |
344.695 |
|
Total
borrowings |
1061.488 |
676.444 |
544.412 |
|
Debt/Equity
ratio |
8.477 |
6.713 |
3.784 |
%2017-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 |
2545.334 |
2206.155 |
2585.655 |
|
|
|
(13.326) |
17.202 |
%2017-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
|
2545.334 |
2206.155 |
2585.655 |
|
Profit |
(127.044) |
(24.456) |
43.113 |
|
|
(4.99%) |
(1.11%) |
1.67% |
%2017-Apr-2015_files/image019.gif)
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 |
No |
|
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 |
BUSINESS
OPERATIONS:
During the year the Company achieved a gross turnover of Rs.2877.961 Million compared to Rs.2451.247 Million in the previous year. The Company has registered a net profit of Rs.43.113 Million for the financial year compared to net loss of Rs.24.456 Million in the previous year.
During the year Company has achieved the production of 16,010MT compared to 13,492MT of Cartridge Explosives and 45,513MT compared to 37,552MT of Bulk Explosives in the previous year.
The profitability of the Company has improved due to better cost control and importantly changes in customer mix in the non-Coal India sectors.
During the year the Metal Cladding Division business has achieved a turnover of Rs.68.427 Million as compared to Rs.71.596 Million in the last year.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Short Term Borrowings |
|
|
|
Loans and advances from related parties |
310.387 |
368.387 |
|
Other loans and advances |
0.000 |
261.460 |
|
|
|
|
|
Total |
310.387 |
629.847 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10397926 |
25/11/2014 * |
300,000,000.00 |
Yes Bank Limited |
9th
Floor, Nehru Centre, Discovery of India, Dr. |
C47931175 |
|
2 |
10322909 |
17/12/2012 * |
311,000,000.00 |
State Bank of India |
Industrial Finance Branch, Raj Bhavan Road, Somajiguda, Somajiguda, Andhra Pradesh - 500082, India |
B64844921 |
|
3 |
10315970 |
15/09/2011 |
680,300,000.00 |
State Bank of Hyderabad |
Overseas Branch, 6-3-652, "Kautilya", Somajiguda, Hyderabad, Andhra Pradesh - 500082, India |
B24669376 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
|
43 |
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.