MIRA INFORM REPORT

 

 

Report No. :

337082

Report Date :

17.08.2015

 

IDENTIFICATION DETAILS

 

Name :

TAPASYA ENGINEERING WORKS PRIVATE LIMITED

 

 

Registered Office :

A-212, Road No. 30, Wagle Industrial Estate, Thane (West), Thane – 400604, Maharashtra

Tel. No.:

91-22-61579400

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

24.01.1986

 

 

Com. Reg. No.:

11-038744

 

 

Capital Investment / Paid-up Capital :

Rs.2.000 Million

 

 

CIN No.:

[Company Identification No.]

U99999MH1986PTC038744

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNET04945D

 

 

PAN No.:

[Permanent Account No.]

AAACT6519Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Pharmaceutical Machineries and Chemical Process, Equipments and working association with Sainath Boilers and Pneumatics.

 

 

No. of Employees :

200 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 120000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Tapasya Engineering Works Private Limited incorporated on 24th January, 1986 and it is having a moderate track.

 

During the FY-2014, the company perform below average in its operations and reported huge decline in its profit margin from its previous year.

 

Rating, further constrained on company moderate financials risk profile and capital structure marked by modest coverage indicators.

 

However, trade relations are fair. Business is active. Payment terms are reported slow but correct.

 

In view of long track record of its business operation and experienced promoters, the company 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.

 

 

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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

 

Name :

Mr. Suresh More

Designation :

Finance Manager

Contact No.:

91-22-61579400

Date :

14.08.2015

 

 

LOCATIONS

 

Registered Office / Factory:

A-212, Road No. 30, Wagle Industrial Estate, Thane (West), Thane – 400604, Maharashtra, India

Tel. No.:

91-22-61579400 / 25801567 / 2582 3250 / 2582 2287

Fax No.:

91-22-25825243 / 25823250

E-Mail :

tapasya@bom7.vsnl.net.in

sales@tapasyaindia.net 

info@tapasyaindia.net

Website :

http://www.tapasyaindia.net

www.tapasyaindia.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Devashish Satyapal Bakshi

Designation :

Director

Address :

801, 802, 803, The Ghatkopar  Raji CHS, R. B. Mehta Road,, Ghatkopar (East), Mumbai - 400077, Maharashtra, India

Date of Birth/Age :

10.01.1968

Date of Appointment :

05.06.1987

DIN No.:

01919717

 

 

Name :

Puja Devashish Bakshi

Designation :

Director

Address :

801, 802, 803, The Ghatkopar  Raji CHS, R. B. Mehta Road,, Ghatkopar (East), Mumbai - 400077, Maharashtra, India

Date of Birth/Age :

08.12.1974

Date of Appointment :

01.12.2001

DIN No.:

01671337

 

 

Name :

Satyapal Rajpal Bakshi

Designation :

Director

Address :

801, 802, 803, The Ghatkopar  Raji CHS, R. B. Mehta Road,, Ghatkopar (East), Mumbai - 400077, Maharashtra, India

Date of Birth/Age :

30.05.1935

Date of Appointment :

01.09.2005

DIN No.:

01671336

 

 

KEY EXECUTIVES

 

Name :

Mr. Suresh More

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Satyapal Rajpal Bakshi

12060

60.30

Devashish Satyapal Bakshi

7110

35.55

Puja Devashish Bakshi

830

4.15

Total

20000

100.00

 

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 :

Manufacturer and Exporter of Pharmaceutical Machineries and Chemical Process, Equipments and working association with Sainath Boilers and Pneumatics.

 

 

Products :

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • USA
  • Germany
  • Bangladesh
  • Algeria

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Germany
  • Switzerland

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Ankit Steels, Mumbai

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

 

Reference :

Ranbaxy Laboratories Limited, Himachal Pradesh

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :

Bank Name

Abhyudaya Co-Operative Bank Limited

Branch

Administrative Office, K. K. Tower, Abhyudaya Bank, Lane, Off. G. D. Ambekar Marg, Parel Village, Mumbai - 400012, 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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Abhyudaya Co-Operative Bank Limited ESCLN/500357

1.376

3.840

Abhyudaya Co-Operative Bank Limited ESCLN/500363

10.961

18.638

Abhyudaya Co-Operative Bank Limited ESCLN/500378

13.490

16.385

Abhyudaya Co-Operative Bank Limited ESCLN/500387

17.576

0.000

Abhyudaya Co-Operative Bank Limited ESCLN/500390

16.568

0.000

Mahindra and Mahindra Car Loan

0.398

0.000

Short- term Borrowings

 

 

Abhyudaya Co-Operative Bank Limited – Cash Credit

17.848

24.733

Abhyudaya Co-Operative Bank Limited – Packaging Credit 

59.719

50.355

Foreign Bill purchase

0.000

9.424

Total

137.936

123.375

 

Auditors :

 

Name :

Singavi Oturkar and Kelkar

Chartered Accountants

Address :

Naryan Niwas, 1st Floor, Gokhale Road, Naupada, Thane – 400602,  Maharashtra, India

PAN No.:

AAEFS8002L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary company:

Alpha Equipments Company Private Limited [U99999MH1978PTC020201]

 

 

Enterprises over which kay managerial personnel are able to exercise significant influence  :
  • Sainath Boilers and Pneumatics
  • Dev Industrial Enterprises

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30,000

Equity Shares

Rs.100/- each

Rs.3.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20,000

Equity Shares

Rs.100/- each

Rs.2.000 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

2.000

2.000

2.000

(b) Reserves & Surplus

38.502

33.337

22.492

(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)

40.502

35.337

24.492

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

80.573

68.839

69.134

(b) Deferred tax liabilities (Net)

0.349

0.435

0.153

(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)

80.922

69.274

69.287

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

79.067

84.512

61.188

(b) Trade payables

239.410

233.168

177.248

(c) Other current liabilities

35.033

23.501

34.561

(d) Short-term provisions

13.108

12.123

7.821

Total Current Liabilities (4)

366.618

353.304

280.818

 

 

 

 

TOTAL

488.042

457.915

374.597

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

66.406

67.329

62.359

(ii) Intangible Assets

1.361

1.394

0.979

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

42.436

42.436

42.436

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

43.179

40.066

35.189

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

153.382

151.225

140.963

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

139.220

140.577

130.137

(c) Trade receivables

173.760

147.516

82.228

(d) Cash and cash equivalents

9.874

5.562

3.177

(e) Short-term loans and advances

11.806

13.035

18.092

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

334.660

306.690

233.634

 

 

 

 

TOTAL

488.042

457.915

374.597

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

448.641

458.122

380.194

 

Other Income

 

 

 

 

TOTAL

448.641

458.122

380.194

 

 

 

 

 

 

EXPENSES

445.209

444.253

360.556

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

18.689

28.310

18.209

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

7.629

7.220

4.692

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

11.060

21.090

13.517

 

 

 

 

 

 

TAX

5.896

9.088

4.344

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

5.165

12.002

9.173

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

28.445

17.600

8.427

 

 

 

 

 

 

ADJUSTMENT OF EARLIER YEAR

0.000

(1.157)

0.000

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

33.610

28.445

17.600

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

129.664

134.312

78.435

 

Commission

12.993

9.994

7.301

 

Document Charges

0.061

0.000

0.351

 

Travelling

3.111

0.000

0.000

 

TOTAL EARNINGS

145.829

144.306

86.087

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

258.25

600.10

458.65

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

600.000

 

 

 

 

 

Expected Sales ( 2015-2016 ) : Rs.1800.000 Million

 

The above information has been parted by Mr. Suresh More

 

CURRENT MATURITIES OF LONG TERM BORROWING DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term borrowing

21.479

11.812

10.620

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.15

2.62

2.41

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

4.17

6.18

4.79

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.48

5.08

4.07

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.27

0.60

0.55

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.47

4.67

5.75

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.91

0.87

0.83

 

 

STOCK PRICES

 

 

 

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

2.000

2.000

2.000

Reserves & Surplus

22.492

33.337

38.502

Share Application money pending allotment

0.000

0.000

0.000

Net worth

24.492

35.337

40.502

 

 

 

 

long-term borrowings

69.134

68.839

80.573

Short term borrowings

61.188

84.512

79.067

Current maturities of long term borrowing

10.620

11.812

21.479

Total borrowings

140.942

165.163

181.119

Debt/Equity ratio

5.755

4.674

4.472

 

 

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)

Total Income  

380.194

458.122

448.641

 

 

20.497

(2.070)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income  

380.194

458.122

448.641

Profit

9.173

12.002

5.165

 

2.41%

2.62%

1.15%

 

 

 

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

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

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 four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three 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

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans From Directors and Relatives

18.204

29.976

Short- term Borrowings

 

 

Loans from Others

 

 

Kudanaouri R Mehta

0.555

0.000

Rajeshwari Trading Corporation

0.345

0.000

Smita Dilipkumar Mehta

0.600

0.000

Total

19.704

29.976

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10474525

03/01/2014

20,000,000.00

ABHYUDAYA CO-OPERATIVE BANK LIMITED

ADMINISTRATIVE OFFICE, K. K. TOWER, ABHYUDAYA BANK 
, LANE, OFF. G. D. AMBEKAR MARG, PAREL VILLAGE,, 
MUMBAI, MAHARASHTRA - 400012, INDIA

B95063525

2

10464079

16/11/2013

30,000,000.00

ABHYUDAYA CO-OPERATIVE BANK LIMITED

ADMINISTRATIVE OFFICE, K. K. TOWER, ABHYUDAYA BANK 
, LANE, OFF. G. D. AMBEKAR MARG, PAREL VILLAGE,, 
MUMBAI, MAHARASHTRA - 400012, INDIA

B91074666

3

10463431

30/11/2012

20,000,000.00

ABHYUDAYA CO-OP. BANK LTD.

ADMINISTRATIVE OFFICE, K.K.TOWER, ABHYUDAYA BANK, 
LANE, OFF G.D.AMBEKAR MARG, PAREL VILLAGE,, MUMBA 
I, MAHARASHTRA - 400012, INDIA

B66745563

4

10469196

05/01/2015 *

70,000,000.00

ABHYUDAYA CO-OPERATIVE BANK LIMITED

ADMINISTRATIVE OFFICE, K.K. TOWER, ABHYUDAYA BANK, 
LANE, OFF. G. D. AMBEKAR MARG, PAREL VILLAGE., M 
UMBAI, MAHARASHTRA - 400012, INDIA

C40604845

5

10375592

27/08/2012

7,500,000.00

ABHYUDAYA CO-OP. BANK LTD.

ADMINISTRATIVE OFFICE, K.K.TOWER, ABHYUDAYA BANK, 
LANE, OFF G.D.AMBEKAR MARG, PAREL VILLAGE, MUMBAI 
, MAHARASHTRA - 400012, INDIA

B57742637

6

10253663

16/01/2015 *

284,500,000.00

ABHYUDAYA CO-OPERATIVE BANK LIMITED

ADMINISTRATIVE OFFICE, K.K. TOWER, ABHYUDAYA BANK, 
LANE, OFF. G. D. AMBEKAR MARG, PAREL VILLAGE, MU 
MBAI, MAHARASHTRA - 400012, INDIA

C40606170

7

10135525

19/12/2008

3,000,000.00

ABHYUDAYA CO-OP. BANK LTD.

ADMINISTRATIVE OFFICE, K.K.TOWER, ABHYUDAYA BANK, 
LANE, OFF G.D.AMBEKAR MARG, PAREL VILLAGE,, MUMBA 
I, MAHARASHTRA - 400012, INDIA

A53520052

8

10134269

04/12/2008

1,500,000.00

ABHYUDAYA CO-OP. BANK LTD.

ADMINISTRATIVE OFFICE, K.K.TOWER, ABHYUDAYA BANK, 
LANE, OFF G.D. AMBEKAR MARG, PAREL VILLAGE, MUMBA 
I, MAHARASHTRA - 400012, INDIA

A53011706

9

10323442

05/01/2015 *

70,000,000.00

ABHYUDAYA CO-OPERATIVE BANK LIMITED

ADMINISTRATIVE OFFICE, K. K. TOWER, ABHYUDAYA BANK 
, LANE, OFF. G. D. AMBEKAR MARG, PAREL VILLAGE,, 
MUMBAI, MAHARASHTRA - 400012, INDIA

C50569094

10

10028347

29/11/2006

6,000,000.00

BANK OF INDIA

GHATKOPAR (WEST) BRANCH, DESAI NIWAS,, M.G.ROAD, 
GHATKOPAR (WEST),, MUMBAI, MAHARASHTRA - 400086, I 
NDIA

A07638323

* Date of charge modification

 

OPERATIONS AND FUTURE OUTLOOK:

 

The Company registered a gross income of Rs. 448.641 Million (Previous Year Rs. 458.122 Million) and profit after tax of Rs. 5.165 Million (Previous Year profit of Rs. 12.002 Million). The Company’s profit has been decreased during the year as compared to the as compared to the previous year. The Directors are taking steps to improve the profitability.

 

 

FIXED ASSETS

 

Tangible Assets 

 

  • Land
  • Plant and machinery     
  • Furniture and fixture
  • Factory shed
  • Electrical installation
  • Factory building
  • Vehicle
  • Office equipment
  • Mobile phone
  • Air Conditioner
  • Computer and Accessories
  • Water cooler
  • Electronic typewriter

 

Intangible Assets 

 

  • Computer software
  • Subscription license

 

 

 

 

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 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.65.12

UK Pound

1

Rs.101.62

Euro

1

Rs.72.56

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

30

 

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.