MIRA
INFORM REPORT
|
Report No. : |
334519 |
|
Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ECHJAY INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Aji Industrial Estate, |
|
Tel. No.: |
91-281-2387482-86/ 3018300/ 3018333 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.12.1960 |
|
|
|
|
Com. Reg. No.: |
04-083236 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 49.900
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200GJ1960PTC083236 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE1157B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Sponge Iron and Steel, Forgings of Metal Parts and also Power Generation. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. Fundaments of the company are decent. Financial position of the
company is strong and healthy. Rating takes into consideration, subjects healthy financial risk
profile marked by strong networth base, low gearing, established customer
base and healthy operating efficiency. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. In the view of good and long track record of operations and extensive
experience of promoters, the company can be considered normal 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
CRISIL |
|
Rating |
Long term rating = CRISIL AA- |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
May 26, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = CRISIL A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
May 26, 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
31-03-2013.
INFORMATION DECLINED BY
|
Name : |
Mr. Kothari |
|
Contact No.: |
91-22-22028674 |
|
Date : |
30.07.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Aji Industrial Estate, Lalpari Lake Road, Rajkot – 360003,
Gujarat, India |
|
Tel. No.: |
91-281-2387482-86/ 3018300/ 3018333 |
|
Fax No.: |
91-281-2387847 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Vinodchandra Harilal Doshi |
|
Designation : |
Managing director |
|
Address : |
Echjay House, 5th Floor, 31-A Carmichael Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
05.07.1937 |
|
Date of Appointment : |
31.12.1960 |
|
DIN No.: |
01470566 |
|
|
|
|
Name : |
Mr. Paras Vinodchandra Doshi |
|
Designation : |
Director |
|
Address : |
Echjay House, 5th Floor, 31-A Carmichael Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
20.05.1967 |
|
Date of Appointment : |
28.05.1992 |
|
DIN No.: |
01470533 |
|
|
|
|
Name : |
Mrs. Jyotiben Vinodchandra Doshi |
|
Designation : |
Director |
|
Address : |
Echjay House, 5th Floor, 31-A Carmichael Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1941 |
|
Date of Appointment : |
01.04.1991 |
|
DIN No.: |
01470559 |
|
|
|
|
Name : |
Mr. Deven Vinodchandra Doshi |
|
Designation : |
Director |
|
Address : |
Echjay House, 5th Floor, 31-A Carmichael Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
28.04.1965 |
|
Date of Appointment : |
29.09.1986 |
|
DIN No.: |
01470571 |
|
|
|
|
Name : |
Mrs. Amita Vinodchandra Doshi |
|
Designation : |
Director |
|
Address : |
Echjay House, 5th Floor, 31-A Carmichael Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1971 |
|
Date of Appointment : |
01.04.1991 |
|
DIN No.: |
01470574 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Deven Vinodchandra Doshi |
|
50 |
|
Vinodchandra Harilal Doshi |
|
1560 |
|
Jyoti Vinodchandra Doshi |
|
1560 |
|
Paras Vinodchandra Doshi |
|
50 |
|
Amita Vinodchandra Doshi |
|
50 |
|
Vinodchandra Doshi Investment Co. Private Limited, India |
|
124610 |
|
Samarth Doshi Investment Co. Private Limited, India |
|
98895 |
|
V H Doshi and Sons Investment Co. Private Limited, India |
|
98895 |
|
Echjay Overseas Trades Private Limited, India |
|
49420 |
|
Harimavin Investment Co. Private Limited, India |
|
124810 |
|
|
|
|
|
Total |
|
499900 |
AS ON 26.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
99.00 |
|
Directors
or relatives of directors |
1.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron and Steel, Forgings of Metal Parts and also Power Generation. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.P Kumbhani and Company Chartered Accountants |
|
Address : |
Malhotra House, 1st Floor, Opposite
G.P.O, Mumbai – 400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABPK6736E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
· Vinodchandra Doshi Investment Company Private Limited [U65990MH1981PTC024913] Harley Securities Private Limited [U67120MH2001PTC131492] |
|
|
|
|
Subsidiary company
: |
· Palanpur Engineering And Fabrications Limited [U28900MH1987PLC042139] Echjay Alloy And Special Steel Private Limited
[U27101MH1985PTC035285] |
|
|
|
|
Other Related Party
: |
Sanghvi Machines Tools Private Limited [U51502MH2006PTC160331] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
499,900 |
Equity Shares |
Rs. 100/- each |
Rs. 49.900
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 |
49.990 |
49.990 |
49.990 |
|
(b) Reserves & Surplus |
7348.634 |
6577.951 |
5885.618 |
|
(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) |
7398.624 |
6627.941 |
5935.608 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
62.209 |
97.681 |
133.404 |
|
(b) Deferred tax liabilities (Net) |
199.195 |
230.495 |
255.595 |
|
(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) |
261.404 |
328.176 |
388.999 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
39.863 |
11.201 |
|
(b)
Trade payables |
490.637 |
367.925 |
314.627 |
|
(c)
Other current liabilities |
55.710 |
54.998 |
50.141 |
|
(d) Short-term
provisions |
909.349 |
1817.640 |
1514.140 |
|
Total Current
Liabilities (4) |
1455.696 |
2280.426 |
1890.109 |
|
|
|
|
|
|
TOTAL |
9115.724 |
9236.543 |
8214.716 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1579.810 |
1608.205 |
1777.816 |
|
(ii)
Intangible Assets |
37.220 |
63.891 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1.117 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1617.030 |
1672.096 |
1778.933 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
4423.294 |
3984.771 |
3181.391 |
|
(b)
Inventories |
510.977 |
450.974 |
494.938 |
|
(c)
Trade receivables |
1194.404 |
851.388 |
885.902 |
|
(d) Cash
and cash equivalents |
114.000 |
196.184 |
106.283 |
|
(e)
Short-term loans and advances |
1256.019 |
2081.130 |
1767.269 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
7498.694 |
7564.447 |
6435.783 |
|
|
|
|
|
|
TOTAL |
9115.724 |
9236.543 |
8214.716 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1388.700 |
1264.636 |
1249.670 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
291.100 |
288.094 |
275.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1097.600 |
976.542 |
974.410 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
310.000 |
303.500 |
290.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
787.600 |
673.042 |
683.600 |
|
|
|
|
|
|
|
|
|
Add |
PROVISION FOR
DEFERRED TAX LIABILITY BEING CREDIT |
31.300 |
25.100 |
20.470 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR
DIVIDENDS |
5.000 |
5.810 |
4.999 |
|
|
|
|
|
|
|
|
|
|
TOTAL |
813.900 |
692.332 |
699.071 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export |
NA |
1292.553 |
892.364 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1575.52 |
1346.35 |
1367.47 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
616.138 |
1126.250 |
988.323 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.04 |
10.57 |
11.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.15 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.01 |
0.02 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.15 |
3.32 |
3.40 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
49.990 |
49.990 |
49.990 |
|
Reserves & Surplus |
5885.618 |
6577.951 |
7348.634 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5935.608 |
6627.941 |
7398.624 |
|
|
|
|
|
|
Long-term borrowings |
133.404 |
97.681 |
62.209 |
|
Short term borrowings |
11.201 |
39.863 |
0.000 |
|
Total
borrowings |
144.605 |
137.544 |
62.209 |
|
Debt/Equity ratio |
0.024 |
0.021 |
0.008 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90217652 |
15/02/1993 |
32,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER, CUFFE
PARADE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
2 |
90217496 |
21/01/1994 * |
154,869,000.00 |
BANK OF INDIA |
PARA BAZAR,
RAJKOT, GUJARAT, INDIA |
- |
|
3 |
90216947 |
18/12/1986 * |
1,600,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO OF INDIA LIMITED |
NARIMAN POINT, 227
V K SHAH MARG NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
|
4 |
90216832 |
23/12/1982 |
9,550,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO OF INDIA LIMITED |
163 BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
5 |
90216817 |
20/10/1982 |
2,100,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO OF INDIA LIMITED |
163 BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
6 |
90216793 |
19/05/1982 |
2,008,000.00 |
THE INDUSTRIAL CREDIT
AND INVESTMENT CORPO OF INDIA LIMITED |
163 BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
7 |
90216788 |
18/12/1986 * |
9,000,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO OF INDIA LIMITED |
163 BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
8 |
90216050 |
12/02/1976 |
2,300,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO OF INDIA LIMITED |
163 BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
9 |
90219899 |
19/01/1976 |
1,900,000.00 |
BANK OF INDIA |
70/80 MAHATMA
GANDHI ROAD, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
10 |
90216601 |
19/01/1976 |
2,800,000.00 |
GUJRAT STATE
FINANCIAL CORPORAITON |
JALDARSHAN BUILDING,
ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
* Date of charge modification
OPERATIONS:
The
current year has been flattish with total sales rising by just 3%, as demand continued
to be sluggish. However, the profit before tax has grown appreciably by 12% due
to reduced steel consumption, lower energy costs and higher profit on
investments. In view of the strong financial position, the company has started
replacing old outdated machines with new automated lines to improve efficiency
and productivity, so that when demand improves, the company would be in a
position to take advantage. This is in line with management’s philosophy of
acquiring the latest state of the art technologies with the new Government,
backed by a thumping majority, planning to take measures to boost economy, the
company is confident of achieving a healthy growth going forward.
To
offset the increase, in consumption of electricity due to higher use of induction
furnaces, the company plans to set up 2 more windmills in Gujarat, and sell off
the 2 old windmills in Tamil Nadu.
The
total investments of the company grew by a healthy 10%, with negligible
interest costs in view of minimal debts.
FIXED ASSETS:
·
Land
Buildings
Plant and
equipment
Furniture
and fixtures
Vehicles
Office
equipment
Other
equipments
Computer
software
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. 64.01 |
|
|
1 |
Rs. 99.84 |
|
Euro |
1 |
Rs. 70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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.