MIRA INFORM REPORT
|
Report No. : |
319727 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
VULCAN INDUSTRIAL ENGINEERING COMPANY LIMITED (w.e.f. 29.06.2006) |
|
|
|
|
Formerly Known
As : |
VULCAN INDUSTRIAL ENGINEERING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
302, Sai Chambers, Opposite Railway Station, Santacruz (East), Mumbai
-400055, Maharashtra |
|
Tel no. : |
91-2692-236032 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.07.1971 |
|
|
|
|
Com. Reg. No.: |
11-015257 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 11.137 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1971PLC015257 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV10520G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV2931Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in designing, developing, manufacturing and supply
of drilling accessories, heavy earth moving machinery (HEMM) spares,
industrial gear boxes and refurbishing of HEMM equipment. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company seems to low during 2014. There also
seems dip in the sales turnover as well as profit of the company. However, the rating takes into consideration the long experience of
the promoters in HEMM spares, gear boxes and drilling accessories. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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 |
ICRA |
|
Rating |
Cash Credit Limits = “BBB” |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk |
|
Date |
February, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
LC Limit = “A3+” |
|
Rating Explanation |
Have moderate degree of safety and carry high 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 DENIED
Management non co-operative (91-2692-236032)
LOCATIONS
|
Registered Office : |
302, Sai Chambers, Opposite Railway Station, Santacruz (East), Mumbai -400055,
Maharashtra, India |
|
Tel. No.: |
91-2692-236032 |
|
Fax No.: |
91-2692-236032 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
A-2/440, GIDC, Vithal Udyognagar, Anand - 388121, Gujarat, India |
|
Tel. No.: |
91-2692-236032 |
|
Fax No.: |
91-2692-238723 |
|
E-Mail : |
|
|
|
|
|
Unit I : |
Survey No. 1091, Sunav – Kasor Road, Piplav, Anand - 388121, Gujarat,
India |
|
Tel. No.: |
91-2697-235811 |
|
Fax No.: |
91-2697-235877 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Jayantilal Gokaldas Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
Manjul, Bakrol Road, Vallabh Vidya Nagar, Anand - 388120, Gujarat,
India |
|
Date of Birth/Age : |
27.12.1927 |
|
Qualification : |
B.E. Mech |
|
Date of Appointment : |
31.07.1971 |
|
Din No.: |
00044754 |
|
|
|
|
Name : |
Mr. Sanjay Jayantilal Gandhi |
|
Designation : |
Managing Director |
|
Address : |
Manjul, Bakrol Road, Vallabh Vidya Nagar, Anand - 388120, Gujarat,
India |
|
Date of Birth/Age : |
21.12.1963 |
|
Qualification : |
B.E. Mech |
|
Date of Appointment : |
01.09.1984 |
|
Din No.: |
00044714 |
|
|
|
|
Name : |
Mr. Rajiv Jayantilal Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
Manjul, Bakrol Road, Vallabh Vidya Nagar, Anand - 388120, Gujarat, India |
|
Date of Birth/Age : |
06.04.1965 |
|
Qualification : |
B.E. Mech |
|
Date of Appointment : |
01.09.1984 |
|
Din No.: |
00044737 |
|
|
|
|
Name : |
Mr. Ankit Sanjay Gandhi |
|
Designation : |
Additional Director |
|
Address : |
Manjul, |
|
Qualification : |
M.B.A. |
|
Date of Appointment : |
01.06.2010 |
|
Din No.: |
00044642 |
|
|
|
|
Name : |
Mr. Serugalathur Ramnath Rajagopal |
|
Designation : |
Director |
|
Address : |
12, Greenview Apartment, 119, Southern Venue, |
|
Qualification : |
B.E. Mech |
|
Date of Appointment : |
01.04.2005 |
|
Din No.: |
01126919 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Jayantilal G Gandhi |
|
197523 |
|
Sanjay J. Gandhi |
|
184129 |
|
Rajiv J. Gandhi |
|
164755 |
|
Bhavna S. Gandhi |
|
103730 |
|
Ankit S. Gandhi |
|
131111 |
|
Amis. Gandhi |
|
17910 |
|
Mona R. Gandhi |
|
100020 |
|
Aditya Gandhi |
|
122500 |
|
Atit Kantilal Sheth |
|
12610 |
|
Panna Ajit Singh |
|
11010 |
|
Amith Sheth |
|
27062 |
|
Bharat Dinkarlal Shah |
|
1725 |
|
Bhaskarkumar Kantibhai Patel |
|
863 |
|
Bhavna Bharat Shah |
|
1379 |
|
Dinkarlal Occhavlalal Shah |
|
1207 |
|
Raksha Bhaskarkumar Patel |
|
4741 |
|
Siddharth Nitin Shah |
|
1035 |
|
Sushma Nitin Shah |
|
690 |
|
Venkatamurali Krishna Tripuraneni |
|
5173 |
|
Pab Engineering Works Private Limited |
|
17242 |
|
Saroj Kishor Motwani |
|
2586 |
|
Kishor Dipchand Motwant |
|
1724 |
|
Rajendea Shankarprasad Desai |
|
345 |
|
Rani Ramesh Singh |
|
862 |
|
Rameshchandra Moluram Singh |
|
862 |
|
Ramesgchandra Moluram Singh Karta Of Rameshchandra Moluram Sinh (Huf) |
|
862 |
|
|
|
|
|
Total |
|
1113656 |
As on 30.09.2014
|
Preference Shares |
|
No. of Shares |
|
Ashwinbhai Rasiklal Shah |
|
10 |
|
Kishor Dipchand Motwani |
|
10 |
|
Sarot Kishor Motwani |
|
10 |
|
Rakshaben Bhaskarbhai Patel |
|
10 |
|
Sanjay Jayantilal Gandhi |
|
30 |
|
Total |
|
70 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in designing, developing, manufacturing and supply
of drilling accessories, heavy earth moving machinery (HEMM) spares, industrial
gear boxes and refurbishing of HEMM equipment. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
(Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
J.L. Gandhi and Associates Chartered Accountants |
|
Address : |
A 92 Vishranti Estate Opp Yash Complex Near Narayan Garden Gotri Road Vadodara - 390007, Gujarat India |
|
PAN No.: |
AAAFJ3450H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
VSA Mining Equipments Pty. Limited, South Africa VA Mining Pty. Limited, Australia Velocity International INC, UNITED STATES |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,400,000 |
Equity Shares |
Rs.10/- each |
Rs. 14.000 Million |
|
100,000 |
Preference Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
Total |
|
Rs. 15.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,113,656 |
Equity Shares |
Rs.10/- each |
Rs. 11.136
Million |
|
70 |
Preference Shares |
Rs.10/- each |
Rs. 0.001
Million |
|
|
Total |
|
Rs. 11.137 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 |
11.137 |
11.137 |
10.289 |
|
(b) Reserves & Surplus |
639.569 |
637.143 |
532.162 |
|
(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) |
650.706 |
648.280 |
542.451 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
237.742 |
284.855 |
478.803 |
|
(b) Deferred tax liabilities
(Net) |
22.640 |
30.821 |
36.548 |
|
(c) Other long term
liabilities |
11.333 |
13.476 |
42.759 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
271.715 |
329.152 |
558.110 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
324.853 |
332.035 |
308.997 |
|
(b) Trade payables |
288.257 |
275.878 |
324.252 |
|
(c) Other current liabilities |
134.837 |
161.590 |
47.874 |
|
(d) Short-term provisions |
0.000 |
59.067 |
10.974 |
|
Total
Current Liabilities (4) |
747.947 |
828.570 |
692.097 |
|
|
|
|
|
|
TOTAL |
1670.368 |
1806.002 |
1792.658 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
597.055 |
687.009 |
766.493 |
|
(ii) Intangible Assets |
12.919 |
19.556 |
15.797 |
|
(iii) Capital work-in-progress |
58.665 |
4.943 |
3.123 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
28.581 |
11.835 |
3.907 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
5.339 |
5.339 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
697.220 |
728.682 |
794.659 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
299.587 |
282.604 |
278.622 |
|
(c) Trade receivables |
567.039 |
679.987 |
659.941 |
|
(d) Cash and cash equivalents |
34.927 |
48.509 |
15.703 |
|
(e) Short-term loans and
advances |
71.595 |
66.220 |
43.733 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
973.148 |
1077.320 |
997.999 |
|
|
|
|
|
|
TOTAL |
1670.368 |
1806.002 |
1792.658 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
985.190 |
1335.121 |
1200.387 |
|
|
Other Income |
19.333 |
6.800 |
21.587 |
|
|
TOTAL
(A) |
1004.523 |
1341.921 |
1221.974 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
331.241 |
448.675 |
525.129 |
|
|
Purchases of Stock-in-Trade |
41.284 |
13.258 |
22.542 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(10.154) |
26.829 |
(26.830) |
|
|
Employees benefits expense |
156.608 |
112.683 |
105.408 |
|
|
Other expenses |
310.836 |
365.990 |
327.486 |
|
|
TOTAL
(B) |
829.815 |
967.435 |
953.735 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
174.708 |
374.486 |
268.239 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.305 |
95.757 |
91.826 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
102.403 |
278.729 |
176.413 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
105.468 |
116.493 |
118.946 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(3.065) |
162.236 |
57.467 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
(5.491) |
58.072 |
9.751 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
2.426 |
104.164 |
47.716 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.18 |
93.53 |
46.38 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.25 |
7.80 |
3.98 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
17.73 |
28.05 |
22.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.19) |
9.07 |
3.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.25 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
0.95 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.30 |
1.44 |
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 Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.289 |
11.137 |
11.137 |
|
Reserves & Surplus |
532.162 |
637.143 |
639.569 |
|
Net
worth |
542.451 |
648.280 |
650.706 |
|
|
|
|
|
|
long-term borrowings |
478.803 |
284.855 |
237.742 |
|
Short term borrowings |
308.997 |
332.035 |
324.853 |
|
Total
borrowings |
787.800 |
616.890 |
562.595 |
|
Debt/Equity
ratio |
1.452 |
0.952 |
0.865 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1200.387 |
1335.121 |
985.190 |
|
|
|
11.224 |
(26.210) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1200.387 |
1335.121 |
985.190 |
|
Profit |
47.716 |
104.164 |
2.426 |
|
|
3.98% |
7.80% |
0.25% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Million
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term debt |
104.661 |
132.743 |
0.000 |
|
|
|
|
|
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars
|
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Term loan from others |
1.500 |
2.071 |
|
|
|
|
|
Total |
1.500 |
2.071 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10503194 |
13/02/2014 |
10,100,000.00 |
INDUSIND BANK LTD |
2401, GENERAL
THIMMAYAA ROAD,, CANTONMENT,, PUNE, |
C06742704 |
|
2 |
10310199 |
07/07/2012 * |
179,500,000.00 |
BANK OF BARODA |
VALLABH VIDHYANAGAR BRANCH,
NANA BAZAR,, OPP. NAL |
B45594215 |
|
3 |
10197656 |
18/01/2010 |
1,400,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, VARDHAMAN
COMPLEX,, BESIDES PIZZA HUT, |
A77788750 |
|
4 |
10197658 |
07/01/2010 |
979,000.00 |
AXIS BANK LIMITED |
2ND FLOOR,
VARDHAMAN COMPLEX,, BESIDES PIZZA HUT, |
A77788933 |
|
5 |
10187041 |
06/11/2009 |
240,000.00 |
AXIS BANK LIMITED |
2ND FLORR,
VARDHAMAN COMPLEX,, BESIDES PIZZA HUT, |
A73567257 |
|
6 |
10156903 |
15/04/2009 |
2,900,000.00 |
AXIS BANK LIMITED |
2ND FLOOR,
VARDHAMAN COMPLEX,, BESIDES PIA HUT,R |
A62047733 |
|
7 |
10094888 |
12/02/2013 * |
1,127,200,000.00 |
CANARA BANK |
STATION ROAD, ANAND, Gujarat - 388001, INDIA |
B68583814 |
|
8 |
90186747 |
15/03/2014 * |
718,000,000.00 |
Canara Bank |
Station Road,, Anand, Gujarat - 388001, INDIA |
C00933721 |
* Date of charge modification
FIXED ASSETS
- Land
- Factory
Building
- Plant and
Machinery
- Equipments,
Appliances and Tools
- Pattern and
Dies
- Electrical
Installation
- Office
Equipments
- Computer and
Software
- Motor Cars
- Scooter and
Cycle
- Tractor and
Trailor
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.63.61 |
|
|
1 |
Rs.96.55 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
|
46 |
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.