MIRA INFORM REPORT

 

 

Report No. :

334893

Report Date :

03.08.2015

 

IDENTIFICATION DETAILS

 

Name :

M SQUARE AUTOMOBILE PRIVATE LIMITED

 

 

Registered Office :

Vasundhara Building 17, Bhulabhai Desai Road, Haji Ali, Next to Cadbury House, Mumbai - 400026, Maharashtra

Tel. No.:

91-22-66128000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.08.2012

 

 

Com. Reg. No.:

11-235045

 

 

Capital Investment / Paid-up Capital :

Rs. 82.700 Million

 

 

CIN No.:

[Company Identification No.]

U50102MH2012PTC235045

 

 

IEC No.:

0312042884

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMM42652B

 

 

PAN No.:

[Permanent Account No.]

AAICM1315R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Dealer of all types of Cars.

 

 

No. of Employees :

300 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear 

 

 

Comments :

Subject is an established company having moderate track record.

 

M Square Automobile Private Limited is a Private Company incorporated on 28 August 2012. It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Mumbai.

 

Profitability of the company is under pressure. Subject has achieved better growth in sales turnover but has reported loss from its operations during FY 2014.

 

Rating takes into consideration, subjects below average financial risk profile marked by weak net worth base, accumulated losses recorded by the company and huge external borrowing taken by the company which may act as a threat to its liquidity position.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow.

 

Subject can be considered for business dealings 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.

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

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 PARTED BY (GENERAL DETAILS)

 

Name :

Ms Vinita Taparia

Designation :

Company Secretary 

Contact No.:

91-22-66128000

Date :

31.07.2015

 

 

LOCATIONS

 

Registered Office/ Showroom 1 :

Vasundhara Building 17, Bhulabhai Desai Road, Haji Ali, Next to Cadbury House, Mumbai 400026, Maharashtra, India

Tel. No.:

91-22-66128000/ 98

Fax No.:

Not Available

E-Mail :

Vinita.taparia@audimumbaisouth.net

 

 

Workshop:

Das Compound, 34, Nesbit Road, Mazgaon, Mumbai – 400010, Maharashtra, India

 

 

Showroom 2 :

Plot No. B-3, MIDC Ambad, Off Mumbai Agra Highway, Nashik – 422010, Maharashtra, India

Tel. No.:

91-253-6631616/ 6631617

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Abhinav Kumar Mittal

Designation :

Director

Address :

143,14th Floor, Sunflower Apartments, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Date of Birth/Age :

24.11.1985

Date of Appointment :

28.08.2012

PAN No.:

AOIPK7095P

DIN No.:

00698436

 

 

Name :

Mr. Luv Malik

Designation :

Director

Address :

40/16. East Patel Nagar, New Delhi - 110008, India

Date of Birth/Age :

08.09.1960

Date of Appointment :

30.09.2014

PAN No.:

ALAPM2468F

DIN No.:

01740633

 

 

KEY EXECUTIVES

 

Name :

Ms. Vinita Ashok Taparia

Designation :

Secretary

Address :

B-403, Shreeji Apatment, Cabin Road, Parallel to, Rly line, Bhayandar (East), Mumbai - 401105, Maharashtra, India

Date of Appointment :

20.06.2015

PAN No.:

AHXPT1999F

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Equity Shareholders

No. of Shares

 

Abhinav Kumar Mittal

959900

Ankit Gupta

100

A K Service Private Limited, India

500000

Anshu

10000

Sunil Mailk

600000

Total

 

2070000

 

Names of Preference Shareholders

No. of Shares

 

Sunil Malik

1700000

Sun Broadcast Equipment’s Private Limited, India

2500000

Abhinav Kumar Mittal

2000000

Total

6200000

 

ALLOTEE 27.03.2015

 

Names of Allotee [Preference Shares]

No. of Shares

 

A K Mittal

2000000

 

 

Total

2000000

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

24.15

Directors or relatives of directors

75.84

Other top fifty shareholders

0.01

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Dealer of all types of cars.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Depend

 

 

Purchasing :

Depend

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

300 (Approximately)

 

 

Bankers :

Bank Name:

The Karur Vysya Bank Limited

Branch:

P. B. No. 1414, Kamanwala Chambers, Sir. P.M. Road,Fort, Mumbai - 400001, Maharashtra, India

Person Name (With Designation):

Not Divulged

Contact Number:

Not Divulged

Name Of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year Of A/C Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (Cc/Od/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

 

·         HDFC Bank Limited, M HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

 

·         ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term loans from banks

83.966

75.887

Term loans from others (The loan obtained from NBFCs are repayable in the range of 18 to 24 equal monthly installments. The loans are secured by hypothecation of Cars purchased there against.)

2.505

6.829

Loans taken for vehicles (The loan obtained from Banks are repayable in the range of 31 to 36 equal monthly installments. The loans are secured by hypothecation of motor vehicles purchased there against.)

0.929

0.613

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

50.397

10.000

Loans repayable on demand from others

446.179

346.609

Other loans and advances

34.791

0.000

 

 

 

Total

 

618.767

439.938

 

Banking Relations :

--

 

 

Financial Institutions :

·         Volkswagen Finance Private Limited, 3rd Floor, Wing - A, Silver Utopia, Cardinal Gracious Road, Chakala, Andheri, Mumbai - 400099, Maharashtra, India

 

·         Kotak Mahindra Prime Limited, 36-38 A Nariman Bhavan, 227, Nariman Point, Mumbai – 400021, Maharashtra, India

 

 

Auditors :

 

Name :

Suresh Surana and Associates

Chartered Accountants

Address :

13 Floor, Bakhtawar, 228, Nariman Point, Mumbai – 400021, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

ACLFS1562L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates Company:

A K Services Private Limited (U74899DL1986PTC024125)

 

 

Enterprises which are owned, or have significant

influence of or are partners

with Key management personnel and their relatives:

·         A  K. Capital Finance Private Limited (U51900MH2006PTC214277)

·         Sun Broadcast Equipments Private Limited (U32201DL2002PTC116546)

·         Blueplanet Infradevelopers Private Limited (U70101DL2010PTC206834)

·         A K Capital Services Limited (L74899DL1993PLC055524)

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2014

 

Authorised Capital : Rs. 120.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 102.700 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,500,000

Equity Shares

Rs. 10/- each

Rs. 25.000 Million

7,500,000

Preference Shares

Rs. 10/- each

Rs. 75.000 Million

 

Total

 

Rs. 100.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,070,000

Equity Shares

Rs. 10/- each

Rs. 20.700 Million

6,200,000

Preference Shares

Rs. 10/- each

Rs. 62.000 Million

 

Total

 

Rs. 82.700 Million

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

82.700

34.200

(b) Reserves & Surplus

 

(54.402)

(22.962)

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

28.298

11.238

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

 

177.400

83.329

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.859

0.381

Total Non-current Liabilities (3)

 

178.259

83.710

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

535.417

502.609

(b) Trade payables

 

13.499

7.115

(c) Other current liabilities

 

147.332

104.459

(d) Short-term provisions

 

0.905

0.007

Total Current Liabilities (4)

 

697.153

614.190

 

 

 

 

TOTAL

 

903.710

709.138

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

58.163

64.042

(ii) Intangible Assets

 

0.272

0.333

(iii) Capital work-in-progress

 

120.855

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

23.713

0.000

(d)  Long-term Loan and Advances

 

34.803

31.267

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

237.806

95.642

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

30.000

0.000

(b) Inventories

 

298.522

402.350

(c) Trade receivables

 

118.095

99.958

(d) Cash and cash equivalents

 

127.992

31.639

(e) Short-term loans and advances

 

90.765

79.549

(f) Other current assets

 

0.530

0.000

Total Current Assets

 

665.904

613.496

 

 

 

 

TOTAL

 

903.710

709.138

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

 

 

618.091

 

 

Other Income

 

 

35.288

 

 

TOTAL                                     (A)

 

1913.408

653.379

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

 

 

964.032

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

 

(402.350)

 

 

Employees benefits expense

 

 

20.275

 

 

Other expenses

 

 

74.351

 

 

TOTAL                                     (B)

 

1968.543

656.308

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

 

(Including Financial and Depreciation)

(2.929)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

 

 

15.090

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

 

 

(18.019)

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

 

4.943

 

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX (E-F)                 (G)

 

(55.135)

(22.962)

 

 

 

 

 

Less

TAX                                                                  (H)

 

(23.696)

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX (G-H)                   (I)

 

(31.439)

(22.962)

 

 

 

 

 

 

IMPORTS

 

 

 

 

Capital Goods

 

NA

6.055

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

 

(3.80)

(17.26)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

Current Maturities of Long term debt

42.396

57.225

 

 

 

Cash Generated from Operations

NA

NA

 

 

 

Net Cash Flow from (used in) Operations

86.143

(568.518)

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

 

NA

(3.71)

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

 

NA

(0.47)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

 

(7.26)

(3.24)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

 

(1.95)

(2.04)

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

 

26.69

57.23

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

 

0.96

1.00

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Share Capital

34.200

82.700

Reserves & Surplus

(22.962)

(54.402)

Money received against share warrants

0.000

0.000

Share Application money pending allotment

0.000

0.000

Net worth

11.238

28.298

 

 

 

Long-term borrowings

83.329

177.400

Short term borrowings

502.609

535.417

CURRENT MATURITIES OF LONG-TERM DEBTS

57.225

42.396

Total borrowings

643.163

755.213

Debt/Equity ratio

57.231

26.688

 

 

 

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

653.379

1913.408

 

 

192.848

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

653.379

1913.408

Profit

(22.962)

(31.439)

 

(3.51%)

(1.64%)

 

 

 

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

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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)

Yes

16

No. of employees

Yes

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 two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last two years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

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

10536802

21/10/2014

100,000,000.00

THE SOUTH INDIAN BANK LIMITED

GROUND FLOOR, EMBASSY CENTRE, 207, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA

C37054681

2

10521036

26/08/2014

545,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL 
WEST, MUMBAI - 400013, MAHARASHTRA, INDIA

C21584107

3

10521055

26/08/2014

545,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL 
WEST, MUMBAI - 400013, MAHARASHTRA, INDIA

C21594445

4

10480074

30/01/2014

1,000,000.00

THE KARUR VYSYA BANK LIMITED

P.B.NO.1414,KAMANWALA CHAMBERS, SIR. P.M.ROAD,FORT, MUMBAI - 400001, MAHARASHTRA, INDIA

B97389712

5

10453386

25/09/2013

3,040,000.00

VOLKSWAGEN FINANCE PRIVATE LIMITED

3RD FLOOR, WING - A, SILVER UTOPIA, CARDINAL GRAC 
IOUS ROAD, CHAKALA, ANDHERI, MUMBAI - 
400099, MAHARASHTRA, INDIA

B86808771

6

10453387

25/09/2013

3,447,000.00

VOLKSWAGEN FINANCE PRIVATE LIMITED

3RD FLOOR, WING - A, SILVER UTOPIA, CARDINAL GRAC 
IOUS ROAD, CHAKALA, ANDHERI, MUMBAI - 
400099, MAHARASHTRA, INDIA

B86809712

7

10447957

26/07/2013

3,418,000.00

VOLKSWAGEN FINANCE PRIVATE LIMITED

3RD FLOOR, WING - A, SILVER UTOPIA, CARDINAL GRAC 
IOUS ROAD, CHAKALA, ANDHERI, MUMBAI - 
400099, MAHARASHTRA, INDIA

B84520485

8

10401860

03/01/2013

990,000.00

ICICI BANK LIMITED

LANDMARK RACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA

B67614321

9

10396339

14/12/2012

220,000,000.00

THE KARUR VYSYA BANK LIMITED

CENTRAL LOAN PROCESSING CELL, PNO. 1414,, KAMANWA 
LA CHAMBERS, SIR P M ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA

B65661860

10

10388216

27/03/2015 *

609,000,000.00

VOLKSWAGEN FINANCE PRIVATE LIMITED

3RD FLOOR, WING - A, SILVER UTOPIA, CARDINAL GRAC 
IOUS ROAD, CHAKALA, ANDHERI, MUMBAI - 
400099, MAHARASHTRA, INDIA

C50749597

 

* Date of charge modification

 

 

 

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Other loans and advances, others

90.000

0.000

SHORT TERM BORROWINGS

 

 

Loans and advances from others

4.050

146.000

 

 

 

Total

 

94.050

146.000

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the Company has been shifted from Flat No. 902, Rishab Tower, Sayani Road, Elphinston, Mumbai – 400025, Maharashtra, India to the present address w.e.f. 17.06.2013.

 


CORPORATE INFORMATION

 

The company is a private limited company incorporated on 28 August 2012 under the provisions of Companies Act, 1956. The company is an authorised dealer of Audi Car’s sale and services.

 

 

FIXED ASSETS:

 

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipment’s

·         Other Equipment’s

·         Leasehold Improvements

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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

UK Pound

1

Rs.99.84

Euro

1

Rs.70.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

1

--CREDIT LINES

1~10

3

--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

 

26

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.