MIRA INFORM REPORT
|
Report No. : |
338132 |
|
Report Date : |
24.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
KALTHIA ENGINEERING AND CONSTRUCTION LIMITED |
|
|
|
|
Registered
Office : |
9-193,Kalthia House, Satyagrah Chhavni, Near Wiseman House, Opposite
Iscon Megha Mall, S G Highway, Ahmedabad-380054, Gujarat |
|
Tel. No.: |
91-79-26861339 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
31.10.1995 |
|
|
|
|
Com. Reg. No.: |
04-028846 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 101.332 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29199GJ1995PLC028846 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK8944N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in Work Contract of Road and activities related to Road Construction and Wind Power Generation. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject promoted by the Kalthia family, commenced operations under a
partnership firm in 1960 and subsequently, it was converted into a limited
company during 1995. The company is engaged in construction activities mainly
in the area of roads, pipe laying, bridges, etc. For the financial year ended 2014, company reported an operating
income of Rs.2642.600 Million with a PAT of Rs.72.500 Million as against
operating income of Rs. 3578.800 Million with a PAT of Rs.129.600 Million in
FY13. Rating takes into consideration company’s established track record and
proven project execution capability by healthy financial risk profile and
adequate net worth base of the company. However, rating strength partially offset by moderate scale of operations
in the construction industry, high geographical concentration and increasing
competition in Government-funded projects. However, trade relations are reported as fair. Payments are reported
to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal
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 |
CARE |
|
Rating |
Long Term Bank Facilities BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
16.03.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
16.03.2015 |
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 DENIED BY
|
Name : |
Mr. Hitesh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-79-26861339 |
|
Date : |
22.08.2015 |
LOCATIONS
|
Registered Office : |
9-193,Kalthia House, Satyagrah Chhavni, Near Wiseman House, Opposite
Iscon Megha Mall, S G Highway, Ahmedabad-380054, Gujarat, India |
|
Tel. No.: |
91-79-26861339 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head office : |
Above Kush Autombiles, Nilambaug, Bhavnagar-364001, Gujarat, India |
|
Tel. No.: |
91-278-2525901 |
|
Fax No.: |
91-278-2525900 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Kalpesh Ratilal Kalthia |
|
Designation : |
Managing Director |
|
Address : |
6,Aditya Bunglows, Opposite St. Kabir School, Near Surdhara Circle Thaltej, Ahmedabad, 380054, Gujarat, India |
|
|
10.11.1968 |
|
Date of Appointment : |
11.11.1996 |
|
DIN No.: |
00005248 |
|
|
|
|
Name : |
Mr. Hitesh Ratilal Kalthia |
|
Designation : |
Managing Director |
|
Address : |
6, Aditya Bunglows. Opposite Sal Hospital, Near Surdhara Circle, Thaltej, Ahmedabad-380054, Gujarat, India |
|
|
14.10.1971 |
|
Date of Appointment : |
16.02.1996 |
|
DIN No.: |
00005243 |
|
|
|
|
Name : |
Mr. Parag Vijaykumar Vyas |
|
Designation : |
Director |
|
Address : |
197, Suvidha Township, Airport Road, Bhavnagar-364001, Gujarat, India |
|
Date of Birth/Age : |
24.12.1967 |
|
Date of Appointment : |
01.07.2003 |
|
DIN No.: |
00005227 |
|
|
|
|
Name : |
Mr. Ratilal Laljibhai Kalthia |
|
Designation : |
Whole-Time Director |
|
Address : |
2576, Swashray, Diamond Chowk, Bhavnagar-364001, Gujarat, India |
|
Date of Birth/Age : |
15.10.1937 |
|
Date of Appointment : |
16.02.1996 |
|
DIN No.: |
00005235 |
|
|
|
|
Name : |
Mr. Manoj Ravjibhai Vekriya |
|
Designation : |
Whole-Time Director |
|
Address : |
Vekariyamention, Yoginagar Main Road, Gondal-360311, Gujarat, India |
|
Date of Birth/Age : |
31.12.1977 |
|
Date of Appointment : |
17.08.2006 |
|
PAN No.: |
AEEPV3118G |
|
DIN No.: |
02639192 |
KEY EXECUTIVES
|
Name : |
Mr. Hitesh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kalthia Ratilal Laljibhai |
|
2020088 |
|
Ratilal Laljibhai Kalthia (HUF) |
|
392775 |
|
Mrudula R Kalthia |
|
131747 |
|
Kalthia Kalpesh Ratilal |
|
2427743 |
|
Kalthia Rituben Kalpesh |
|
430727 |
|
Kalthia Kayan Kalpesh |
|
716313 |
|
Kalthia Kanira Kalpesh |
|
145187 |
|
Kalthia Kyara Kalpesh |
|
82312 |
|
Kalthia Hitesh Ratilal |
|
1923413 |
|
Kalthia Anu Hitesh |
|
90003 |
|
Kalthia Ariva Htesh |
|
145187 |
|
Kalthia Aryan Hitesh |
|
82312 |
|
Kalthia Mitesh Ratilal |
|
528945 |
|
Kalthia Ashu Ratilal |
|
78438 |
|
Kalthia Arsh Ratilal |
|
82313 |
|
Kalthia Ashay Ratilal |
|
82312 |
|
R L Kalthia Engineering and Automobiles Limited, India |
|
583040 |
|
Kalthia Investment Private Limited, India |
|
190345 |
|
Total |
|
10133200 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
7.63 |
|
Directors or relatives of Directors |
92.37 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in Work Contract of Road and activities related to Road Construction and Wind Power Generation. |
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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 : |
Information declined by the management |
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Bankers : |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India |
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|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Parikh and Majmudar Chartered Accountants |
|
Address : |
B-303 GCP Business Center, Opposite Memnagar Fire Station, Near Vijay Cross Roads, Navrangpura, Ahmedabad-380009, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFP8921B |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,133,200 |
Equity Shares |
Rs.10/- each |
Rs. 101.332
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 |
101.332 |
101.332 |
101.332 |
|
(b) Reserves & Surplus |
689.389 |
616.915 |
487.354 |
|
(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) |
790.721 |
718.247 |
588.686 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
80.879 |
56.271 |
65.417 |
|
(b) Deferred tax liabilities (Net) |
26.475 |
29.925 |
22.632 |
|
(c) Other long term
liabilities |
203.909 |
218.831 |
117.132 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
311.263 |
305.027 |
205.181 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
243.797 |
155.494 |
124.941 |
|
(b) Trade
payables |
463.767 |
517.642 |
399.245 |
|
(c) Other
current liabilities |
221.063 |
156.272 |
202.614 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
928.627 |
829.408 |
726.800 |
|
|
|
|
|
|
TOTAL |
2030.611 |
1852.682 |
1520.667 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
399.490 |
448.424 |
411.849 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
31.500 |
31.500 |
52.872 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
361.262 |
301.774 |
181.481 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
264.819 |
141.554 |
47.647 |
|
(e) Other
Non-current assets |
0.053 |
0.067 |
0.081 |
|
Total Non-Current
Assets |
1057.124 |
923.319 |
693.930 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
124.773 |
148.923 |
185.565 |
|
(c) Trade
receivables |
207.478 |
119.219 |
129.209 |
|
(d) Cash
and cash equivalents |
286.029 |
341.713 |
189.953 |
|
(e)
Short-term loans and advances |
355.207 |
319.508 |
280.577 |
|
(f) Other
current assets |
0.000 |
0.000 |
41.433 |
|
Total
Current Assets |
973.487 |
929.363 |
826.737 |
|
|
|
|
|
|
TOTAL |
2030.611 |
1852.682 |
1520.667 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2642.592 |
3578.758 |
2188.419 |
|
|
|
Other Income |
19.002 |
25.171 |
21.165 |
|
|
|
TOTAL (A) |
2661.594 |
3603.929 |
2209.584 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1037.353 |
1431.685 |
889.159 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
15.900 |
52.242 |
(123.921) |
|
|
|
Employees benefits expense |
82.291 |
85.147 |
61.249 |
|
|
|
Other expenses |
1304.005 |
1753.711 |
1206.215 |
|
|
|
Extraordinary Items |
0.000 |
0.335 |
-12.738 |
|
|
|
TOTAL (B) |
2439.549 |
3323.120 |
2019.964 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
222.045 |
280.809 |
189.620 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
60.044 |
42.715 |
31.669 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
162.001 |
238.094 |
157.951 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.556 |
49.740 |
39.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
107.445 |
188.354 |
118.872 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.971 |
58.793 |
31.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
72.474 |
129.561 |
87.282 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.15 |
12.79 |
8.61 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
45.754 |
47.413 |
41.767 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
133.791 |
360.885 |
61.633 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.74 |
3.62 |
3.99 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.40 |
7.85 |
8.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.56 |
12.40 |
9.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.26 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47 |
0.36 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.12 |
1.14 |
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 |
101.332 |
101.332 |
101.332 |
|
Reserves & Surplus |
487.354 |
616.915 |
689.389 |
|
Net
worth |
588.686 |
718.247 |
790.721 |
|
|
|
|
|
|
long-term borrowings |
65.417 |
56.271 |
80.879 |
|
Short term borrowings |
124.941 |
155.494 |
243.797 |
|
Current maturities of
long-term debts |
41.767 |
47.413 |
45.754 |
|
Total
borrowings |
232.125 |
259.178 |
370.430 |
|
Debt/Equity
ratio |
0.394 |
0.361 |
0.468 |
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) |
|
Revenue from operations |
2188.419 |
3578.758 |
2642.592 |
|
|
|
63.532 |
(26.159) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
2188.419 |
3578.758 |
2642.592 |
|
Profit |
87.282 |
129.561 |
72.474 |
|
|
3.99% |
3.62% |
2.74% |
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 |
Yes |
|
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 |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from 6, Aditya Bungalows, Opposite S.A.L. Hospital, Drive in Road, Thaltej, Ahmedabad- 380054, Gujarat, India to the present address w.e.f. 01.03.2014
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
1.505 |
1.776 |
|
Total |
1.505 |
1.776 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10538825 |
16/12/2014 |
4,172,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
C38171450 |
|
2 |
10540684 |
10/12/2014 |
1,892,244.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
C39257878 |
|
3 |
10530762 |
15/11/2014 |
13,997,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C33303918 |
|
4 |
10521353 |
22/09/2014 |
1,324,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
C21893672 |
|
5 |
10453175 |
28/02/2014 * |
1,317,000,000.00 |
BANK OF INDIA |
AHMEDABAD MID CORP BRANCH 1ST FLR BOI BLDG, NR SW |
C01134550 |
|
6 |
10408399 |
28/02/2013 |
2,365,000.00 |
Axis Bank Limited |
RAC Ahmedabad, CV/ CE Department, 4th Floor, Shivalik Ishan, Nr. C. N.
Vidhyalaya, Ambawadi, AHMEDABAD, Gujarat - 380006, INDIA |
B69751758 |
|
7 |
10405834 |
08/02/2013 |
1,350,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B68865377 |
|
8 |
10404047 |
31/01/2013 |
2,270,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B68527423 |
|
9 |
10397718 |
27/12/2012 |
1,916,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B66140542 |
|
10 |
10384117 |
16/10/2012 |
6,660,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B61154381 |
* Date of charge modification
REVIEW OF BUSINESS
& OPERATIONS:
The Company continues closely track developments in the castor industry and particularly in the segment in order to optimized its business model to cope with threats and promises these developments hold.
The company are pleased to inform that during the year the Company has improved the working and done a good business. The turnover of the Company during the year was Rs. 2642.600 Million as against Rs. 3578.800 Million, than the previous year. The net profit has decrease to 72.500 Million from Rs. 129.600 Million.
FIXED ASSETS
- Land
- Building
- Plant and machinery
- Furniture and fixture
- Vehicle
- Office equipment
- Computer
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.65.83 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.