MIRA INFORM REPORT
|
Report No. : |
317971 |
|
Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
FORTUNE METALIKS LIMITED |
|
|
|
|
Registered
Office : |
Ferozepur Road, Opposite Circut House, Ludhiana-141001, Punjab |
|
Tel. No.: |
91-161-2402763 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.07.2008 |
|
|
|
|
Com. Reg. No.: |
16-032063 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 37.009 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100PB2008PLC032063 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLF10275G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF8508P/AABCF3202D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and supplier of TMT Steel, TMT Bar. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by low profitability margins and leverage capital structure
of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
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 |
CARE |
|
Rating |
Long term rating BB |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk. |
|
Date |
08.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
08.04.2015 |
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. Deep Bansal |
|
Designation : |
Director |
|
Contact No.: |
91-957600010 |
|
Date : |
17.04.2015 |
LOCATIONS
|
Registered Office : |
Ferozepur Road, Opposite Circut House, Ludhiana-141001, Punjab, India |
|
Tel. No.: |
91-161-2402763 |
|
Mobile No.: |
91-957600010 (Mr. Deep Bansal) |
|
Fax No.: |
91-161-2403009 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
509, Somdatt Chambers-I 9, Bhikaji Cama Place, New Delhi –
110 066, Delhi, India |
|
Tel. No.: |
91-
11- 46089652 |
|
Fax No.: |
91- 11- 46089653 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Talwara Road,
Mandi Gobindgarh, District Fatehgarh Sahib Punjab-147301, India |
|
Tel. No.: |
91-1765-507574 /
75 / 76 / 77 |
|
Fax No.: |
91-1765-507578 |
|
E-Mail : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Bhagwan Dass Bansal |
|
Designation : |
Director |
|
Address : |
709-B, Aggar Nagar, Ludhiana-144001, Punjab, India |
|
Date of Birth/Age : |
29.02.1956 |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
00732496 |
|
PAN No.: |
AASPB0235C |
|
|
|
|
Name : |
Mr. Deep Bansal |
|
Designation : |
Director |
|
Address : |
709-B, Aggar Nagar, Ludhiana-144001, Punjab, India |
|
Date of Birth/Age : |
17.06.1980 |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
00732622 |
|
PAN No.: |
AECPB3508A |
|
|
|
|
Name : |
Mr. Saurabh Bansal |
|
Designation : |
Director |
|
Address : |
709-B, Aggar Nagar, Ludhiana-144001, Punjab, India |
|
Date of Birth/Age : |
16.05.1985 |
|
Date of Appointment : |
15.07.2009 |
|
DIN No.: |
00970252 |
|
PAN No.: |
AHQPB4699F |
|
|
|
|
Name : |
Mr. Ashwani Kumar |
|
Designation : |
Director |
|
Address : |
H. No 245, Ward No 15 C, Pathshala Road, Dhuri-148024, Punjab, India |
|
Date of Birth/Age : |
19.02.1975 |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
01006868 |
|
PAN No.: |
ADDPK9883H |
|
|
|
|
Name : |
Mr. Raghu Nandan Singla |
|
Designation : |
Whole-Time Director |
|
Address : |
68-N, Rajguru Nagar, Near Royal Palace, Ludhiana-141001, Punjab, India |
|
Date of Birth/Age : |
16.08.1973 |
|
Date of Appointment : |
01.02.2014 |
|
DIN No.: |
01799860 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ashwani Kumar |
|
260000 |
|
Shweta Goyal |
|
5000 |
|
Saurabh Bansal |
|
55000 |
|
Deep Bansal |
|
90000 |
|
Bhagwan Dass
Bansal |
|
73000 |
|
Nitika Bansal |
|
5000 |
|
Uma Bansal |
|
80000 |
|
Global
Transmission Private Limited, India |
|
480000 |
|
Shweta Agro Farms
Private Limited, India |
|
136000 |
|
A.N. Trading
Private Limited, India |
|
99000 |
|
Balram Alloys
Private Limited, India |
|
171000 |
|
Gobind Ingots Private
Limited, India |
|
137000 |
|
Shivangan Tie-UP
Private Limited, India |
|
980000 |
|
Fantastic
Commercial (P) Limited, India |
|
65000 |
|
Fortune Re-Rollers
(P) Limited, India |
|
60000 |
|
B.D. Bansal, Karta
(B.D. Bansal H.U.F) |
|
29000 |
|
Rosewood
Mercantile Private Limited, India |
|
402600 |
|
J R Finance
Limited, India |
|
573300 |
|
Total |
|
3700900 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
69.15 |
|
Directors or relatives of Directors |
15.35 |
|
Other top fifty shareholders |
15.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and supplier of TMT Steel, TMT Bar. |
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Products : |
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Brand Names : |
Fortune |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Davinder Pal Singh and Co. Chartered Accountants |
|
Address : |
524-L, Model Town, Opp. Bawa Bakery, Ludhiana, Punjab, India |
|
PAN No.: |
AACFD9127D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Fortune Metaliks SA Pty Limited, South Africa |
|
|
|
|
Related Parties : |
CIN No.: U27100PB2004PLC027603
CIN No.: U00060PB2006PTC029615 |
CAPITAL STRUCTURE
As on 10.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,750,000 |
Equity Shares |
Rs.10/- each |
Rs.37.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,700,900 |
Equity Shares |
Rs.10/- each |
Rs.37.009
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 |
37.009 |
27.770 |
25.250 |
|
(b) Reserves & Surplus |
477.202 |
350.633 |
274.295 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
45.320 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
514.211 |
423.723 |
299.545 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
483.411 |
358.262 |
400.716 |
|
(b) Deferred tax liabilities
(Net) |
46.908 |
35.963 |
13.718 |
|
(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) |
530.319 |
394.225 |
414.434 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
783.784 |
429.053 |
340.605 |
|
(b) Trade payables |
75.397 |
145.978 |
0.000 |
|
(c) Other current liabilities |
99.651 |
160.716 |
209.117 |
|
(d) Short-term provisions |
3.684 |
5.175 |
4.927 |
|
Total
Current Liabilities (4) |
962.516 |
740.922 |
554.649 |
|
|
|
|
|
|
TOTAL |
2007.046 |
1558.870 |
1268.628 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
|
|
(ii) Intangible Assets |
762.444 |
498.775 |
505.266 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
91.747 |
20.073 |
|
(b) Non-current Investments |
0.000 |
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
26.478 |
39.653 |
25.478 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
788.922 |
630.375 |
551.017 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
190.468 |
223.440 |
177.780 |
|
(c) Trade receivables |
822.254 |
486.751 |
435.018 |
|
(d) Cash and cash equivalents |
56.490 |
74.337 |
17.366 |
|
(e) Short-term loans and
advances |
145.543 |
143.467 |
86.983 |
|
(f) Other current assets |
3.369 |
0.500 |
0.464 |
|
Total
Current Assets |
1218.124 |
928.495 |
717.611 |
|
|
|
|
|
|
TOTAL |
2007.046 |
1558.870 |
1268.628 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2789.396 |
2828.737 |
2303.303 |
|
|
|
Other Income |
30.121 |
14.946 |
8.888 |
|
|
|
TOTAL (A) |
2819.517 |
2843.683 |
2312.191 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2241.182 |
2245.941 |
1809.368 |
|
|
|
Purchases of Stock-in-Trade |
66.663 |
141.584 |
103.719 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
31.618 |
(46.970) |
13.142 |
|
|
|
Employees benefits expense |
39.897 |
38.151 |
29.865 |
|
|
|
Other expenses |
217.734 |
228.661 |
184.551 |
|
|
|
TOTAL (B) |
2597.094 |
2607.367 |
2140.645 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
222.423 |
236.316 |
171.546 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
142.382 |
123.106 |
98.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
80.041 |
113.210 |
72.641 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.741 |
40.514 |
35.293 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
32.300 |
72.696 |
37.348 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.374 |
22.851 |
3.480 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
20.926 |
49.845 |
33.868 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
76.792 |
26.947 |
(6.921) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
97.718 |
76.792 |
26.947 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
112.509 |
2.270 |
0.357 |
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
5.65 |
17.95 |
13.41 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
4100.000 |
|
|
|
|
|
The above information has been parted by Mr. Deep Bansal (Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.75 |
1.76 |
1.47 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.97 |
8.35 |
7.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.61 |
4.96 |
2.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.17 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.46 |
1.86 |
2.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.25 |
1.29 |
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 |
25.250 |
27.770 |
37.009 |
|
Reserves & Surplus |
274.295 |
350.633 |
477.202 |
|
Share Application money
pending allotment |
0.000 |
45.320 |
0.000 |
|
Net
worth |
299.545 |
423.723 |
514.211 |
|
|
|
|
|
|
long-term borrowings |
400.716 |
358.262 |
483.411 |
|
Short term borrowings |
340.605 |
429.053 |
783.784 |
|
Total
borrowings |
741.321 |
787.315 |
1267.195 |
|
Debt/Equity
ratio |
2.475 |
1.858 |
2.464 |
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 |
2303.303 |
2828.737 |
2789.396 |
|
|
|
22.812 |
-1.391 |
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 |
2303.303 |
2828.737 |
2789.396 |
|
Profit |
33.868 |
49.845 |
20.926 |
|
|
1.47% |
1.76% |
0.75% |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Other loans and advances |
7.061 |
58.499 |
|
Total |
7.061 |
58.499 |
FINANCIAL ANALYSIS AND
REVIEW OF OPERATIONS:
Production and Sales
Review:
During the year, The Company has registered Revenue from Operations (turnover) of Rs. 2819.518 Lacs as compared to Rs. 2843.683 Lacs showing decrease of 0.85 % over previous year. The business wise performance is as under:-
a) TMT Bars:
The production of TMT Bars decreased from 72691.610 MT to 64386.740 MT, showing decrease of 11.42% over the previous year. The Sale revenue of TMT Bars decreased from Rs. 2579.270 Lacs to Rs. 2224.406 Lacs during the year showing decrease of 13.76%.
b) Ingots/Billets:
During the year, the production of Ingots/Billets decreased from 17950.330 MT to 17220.520 MT, showing a decline of 4.06% over the previous year.
c) Structure:
During the year, the Company has registered the production of 14501.630 MT of Structure Steel.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10506000 |
06/06/2014 |
270,000,000.00 |
State Bank of India |
SME, Sunder Nagar, Ludhiana, Punjab - 141008, INDIA |
C09285891 |
|
2 |
10503356 |
23/05/2014 |
1,058,500,000.00 |
State Bank of India |
SME, Sunder Nagar, Ludhiana, Punjab - 141008, INDIA |
C06630545 |
|
3 |
10425984 |
22/04/2013 |
270,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, MILLER GANJ, LUDHIANA, Punjab |
B75063610 |
|
4 |
10345111 |
07/03/2012 |
75,000,000.00 |
J. R. Finance Limited |
238, Ludhiana Stock Exchange Building,, Feroze Gandhi Market,,
Ludhiana, Punjab - 141002, INDIA |
B36114411 |
|
5 |
10280387 |
21/03/2014 * |
948,000,000.00 |
State Bank of India |
State Bank of India, Ludhiana, Punjab - 141007, INDIA |
C03017068 |
|
6 |
10221522 |
10/05/2010 |
350,000,000.00 |
State Bank of Patiala |
Commercial Branch, Aarti Complex,, Vishwakarma Chowk, Ludhiana,
Ludhiana, Punjab - 141008, INDIA |
A86690013 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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.62.34 |
|
|
1 |
Rs.93.09 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.