MIRA INFORM REPORT
|
Report No. : |
319701 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BACKBONE ENTERPRISES LIMITED |
|
|
|
|
Registered
Office : |
Backbone House, M-43 Gujarat Housing Board, Kalavad Road, Rajkot -
360002, Gujarat |
|
Tel. No.: |
91-281-2454278/ 79/ 80 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.07.2002 |
|
|
|
|
Com. Reg. No.: |
04-040988 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 80.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203GJ2002PLC040988 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTB00218B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB9255E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in infrastructure development and construction of
Roads and Highway. |
|
|
|
|
No. of Employees
: |
Information denied by management |
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 |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject was erstwhile established as a partnership concern in 1991, subsequent
it was reconstituted as a public limited company having satisfactory track. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of experienced promoters and demonstrated track record, 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 |
CRISIL |
|
Rating |
Long Term Rating “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
February 18, 2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating “A2” |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
February 18, 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 DENIED
MANAGEMENT NON CO-OPERATIVE (TEL No. 91-79-26871678)
LOCATIONS
|
Registered Office : |
Backbone House, M-43 Gujarat Housing Board, Kalavad Road, Rajkot -
360002, Gujarat, India |
|
Tel. No.: |
91-281-2454278/ 79/ 80 |
|
Fax No.: |
91-281-2454280 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
209 Akik Tower, Opposite Rajpath Club, S.G. Highway Bodakdev,
Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-26871678/ 79 |
|
Fax No.: |
91-79-40040710 |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Kishorkumar Virji Viramgama |
|
Designation : |
Managing Director |
|
Address : |
21 Aditi Appartment,, Kalawad Road, Royal Park,, Rajkot, 360005, Gujarat, India |
|
Date of Birth/Age : |
19.06.1958 |
|
PAN |
AAWPV4482D |
|
Date of Appointment : |
23.07.2002 |
|
DIN No.: |
00087381 |
|
|
|
|
Name : |
Mr. Bhupendrakumar Trikamji Pachani |
|
Designation : |
Whole-Time Director |
|
Address : |
Akashdeep, 11-A, Sainagar Soc.,, Kalawad Road,, Rajkot, 360005, Gujarat, India |
|
Date of Birth/Age : |
15.09.1957 |
|
Date of Appointment : |
23.07.2002 |
|
PAN |
ABJPP7612B |
|
DIN No.: |
00123659 |
|
|
|
|
Name : |
Mr. Bhovan Parshottam Rangani |
|
Designation : |
Whole-Time Director |
|
Address : |
701, Rat Rani Tower Panchvati, Main Road, Bhatkidham Mandir, Rajkot, 360001, Gujarat, India |
|
Date of Birth/Age : |
02.11.1959 |
|
Date of Appointment : |
23.07.2002 |
|
PAN |
ABKPR3243B |
|
DIN No.: |
00169417 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bhupendrakumar Trikamji Pachani |
|
2005000 |
|
Kishorkumar Virji Viramgama |
|
2160000 |
|
Bhovan Parshottam Rangani |
|
2082000 |
|
Bhavnaben |
|
346600 |
|
Urmilaben Kishorbhai Viramgama |
|
366800 |
|
Bhavnaben Bhovanbhai Rangani |
|
366600 |
|
Ankurbhai Bhupendrakumar Pachani |
|
120000 |
|
Bhupendrakumar Trikambhai Pachani (HUF) |
|
195000 |
|
Kishorbhai Virajbhai Viramgama (HUF) |
|
140000 |
|
Bhovanbhai Parshottambhai Rangani HUF) |
|
218000 |
|
Total |
|
8000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in infrastructure development and construction of
Roads and Highway. |
|
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|
Products/ Service : |
|
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|
Brand Names : |
Not Available |
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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 : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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Financial
Institution: |
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|
|
|
|
Auditors 1: |
|
|
Name : |
Manubhai and Company Chartered Accountants |
|
Address : |
Opposite Dr. Nanshi Building, Central Bank Road, Jamnagar – 361001,
Gujarat, India |
|
Email |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFM2086H |
|
|
|
|
Auditors 2: |
|
|
Name : |
R. Javiya and Company Chartered Accountants |
|
Address : |
305, Aalap – A, Limda Chowk, Rajkot – 360001, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABMPJ5568R |
|
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Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
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Subsidiary company: |
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Joint venture |
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|
Associate |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 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 |
80.000 |
80.000 |
80.000 |
|
(b) Reserves & Surplus |
1726.115 |
1553.812 |
1348.679 |
|
(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) |
1806.115 |
1633.812 |
1428.679 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
450.727 |
398.833 |
677.292 |
|
(b) Deferred tax liabilities (Net) |
81.151 |
81.841 |
45.562 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
26.023 |
25.650 |
17.334 |
|
Total Non-current
Liabilities (3) |
557.901 |
506.324 |
740.188 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1045.614 |
667.713 |
498.552 |
|
(b) Trade
payables |
556.992 |
648.126 |
439.880 |
|
(c) Other
current liabilities |
1449.292 |
2148.207 |
989.572 |
|
(d) Short-term
provisions |
30.717 |
21.091 |
12.057 |
|
Total Current
Liabilities (4) |
3082.615 |
3485.137 |
1940.061 |
|
|
|
|
|
|
TOTAL |
5446.631 |
5625.273 |
4108.928 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1055.742 |
1280.574 |
1364.422 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
61.450 |
40.685 |
|
(b) Non-current Investments |
555.563 |
485.023 |
323.865 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
104.535 |
96.959 |
121.808 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1715.840 |
1924.006 |
1850.780 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
56.561 |
23.249 |
28.955 |
|
(b)
Inventories |
1403.114 |
1566.081 |
570.237 |
|
(c) Trade
receivables |
1259.742 |
1056.449 |
972.724 |
|
(d) Cash
and cash equivalents |
335.636 |
477.748 |
267.396 |
|
(e)
Short-term loans and advances |
306.191 |
337.528 |
236.723 |
|
(f) Other
current assets |
369.547 |
240.212 |
182.113 |
|
Total
Current Assets |
3730.791 |
3701.267 |
2258.148 |
|
|
|
|
|
|
TOTAL |
5446.631 |
5625.273 |
4108.928 |
ROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6399.369 |
4849.422 |
3169.970 |
|
|
|
Other Income |
20.931 |
25.586 |
26.115 |
|
|
|
TOTAL (A) |
6420.300 |
4875.008 |
3196.085 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3027.197 |
1844.208 |
1068.658 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
34.386 |
(391.456) |
(157.302) |
|
|
|
Employees benefits expense |
364.487 |
356.091 |
193.255 |
|
|
|
Other expenses |
2177.557 |
2287.999 |
1516.780 |
|
|
|
TOTAL
(B) |
5603.627 |
4096.842 |
2621.391 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
816.673 |
778.166 |
574.694 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
204.931 |
156.004 |
115.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
611.742 |
622.162 |
459.008 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
264.868 |
300.948 |
178.739 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
346.874 |
321.214 |
280.269 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
146.491 |
88.157 |
77.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
200.383 |
233.057 |
202.805 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.05 |
29.13 |
25.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.13 |
4.81 |
6.40 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.76 |
16.05 |
18.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.09 |
6.32 |
7.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.20 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.83 |
0.65 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.06 |
1.16 |
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 |
80.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
1348.679 |
1553.812 |
1726.115 |
|
Net worth |
1428.679 |
1633.812 |
1806.115 |
|
|
|
|
|
|
long-term borrowings |
677.292 |
398.833 |
450.727 |
|
Short term borrowings |
498.552 |
667.713 |
1045.614 |
|
Total borrowings |
1175.844 |
1066.546 |
1496.341 |
|
Debt/Equity ratio |
0.823 |
0.653 |
0.828 |
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 |
3169.970 |
4849.422 |
6399.369 |
|
|
|
52.980 |
31.961 |
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 |
3169.970 |
4849.422 |
6399.369 |
|
Profit |
202.805 |
233.057 |
200.383 |
|
|
6.40% |
4.81% |
3.13% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Million) |
||
|
Current maturities of long-term debt |
315.472 |
458.094 |
141.075
|
|
|
|
|
|
|
Total |
315.472 |
458.094 |
141.075
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
BUSINESS OVERVIEW
During the year, total revenue of the company has increased to Rs. 6399.400 Million from Rs. 4849.400 Million the previous year. The net profit before tax for the year has been Rs. 346.900 Million as against Rs. 321.200 Million during the previous financial year.
.
Note:
Registered Office of the company has been shifted from “417, Shivam Complex, Opposite Jagnath Tample, Dr. Yagnik Road, Rajkot – 360001, Gujarat, India” to the present address w.e.f. 03.12.2007.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
44.295 |
8.801 |
|
Total |
44.295 |
8.801 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10556321 |
19/02/2015 |
528,500,000.00 |
ORIENTAL BANK OF COMMERCE |
"AUM
PLANET", GROUND FLOOR, OPPOSITE NIRMALA CONVENT |
C47291281 |
|
2 |
10551125 |
20/01/2015 |
37,937,000.00 |
HDB FINANCIAL SERVICES LIMITED |
RADHIKA, 2ND FLOOR, LAW GARDEN ROAD, NAVRANGPURA, AHMEDABAD – 380009, GUJARAT, INDIA |
C44598928 |
|
3 |
10544299 |
31/12/2014 |
13,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
C41031618 |
|
4 |
10537636 |
28/11/2014 |
6,379,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
C37507514 |
|
5 |
10479856 |
20/02/2014 |
3,040,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI - 400001, |
B97310924 |
|
6 |
10475895 |
30/01/2014 |
2,702,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI - 400001, |
B95617692 |
|
7 |
10475899 |
30/01/2014 |
2,702,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI - 400001, |
B95618757 |
|
8 |
10475908 |
30/01/2014 |
2,702,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI - 400001, |
B95621397 |
|
9 |
10475897 |
30/01/2014 |
3,205,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI - 400001, |
B95618187 |
|
10 |
10477226 |
18/01/2014 |
10,000,000.00 |
ORIENTAL BANK OF COMMERCE |
"AUM
PLANET", GROUND FLOOR, OPPOSITE NIRMALA CONVENT |
B96194030 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- 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 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 :
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.63.61 |
|
|
1 |
Rs.96.56 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
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 |
|
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.