MIRA INFORM REPORT
|
Report No. : |
352602 |
|
Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRINCE PIPES AND FITTINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.1, Honda Industrial Estate, Phase II, Honda Sattari, Honda –
403530, Goa |
|
Tel. No.: |
91-22-24382555 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.11.1987 |
|
|
|
|
Com. Reg. No.: |
24-006287 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 480.079 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26932GA1987PTC006287 |
|
|
|
|
IEC No.: |
0391155652 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMP06179F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP2319J |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of UPVC, CPVC and PPR Pipes, Fittings and Valves.
(Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 is an established company incorporated in the year 1987. It
has satisfactory track. For the financial year ended 2015, the company has shown downtrend in
its operational activity marked by marginal decline in revenue and thin
profitability margin. The financials position of the company seems to be strong marked by
healthy adequate net worth position. Trade relations are fair. Business is active. Payments are usually
correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term = “BBB-“ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
December, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term = “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
December, 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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Rupesh Vadekar |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-24382555 |
|
Date : |
02.12.2015 |
LOCATIONS
|
Registered Office : |
Plot No.1, Honda Industrial Estate, Phase II, Honda Sattari, Honda –
403530, Goa, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Admin Office : |
The Ruby, 8th Floor, 29, Senapati Bapat Marg (Tulsi Pipe
Road), Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-66022222 |
|
Fax No.: |
91-22-66022220 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Athal Road, Village Athal, Survey No.132/1/1/3, Naroli,
Silvassa – 396235, Dadra and Nagar Haveli, U.T, India |
|
Tel. No.: |
91-260-2640007 |
|
Fax No.: |
91-260-2640082 |
|
|
|
|
Factory 2 : |
Jayant Desai Marg, Survey No.53 and 92, Vaghdhra Road,
Dadra – 396191, U.T, India |
|
Tel. No.: |
91-260-2668091 |
|
Fax No.: |
91-260-2668090 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Jayant Shamji Chheda |
|
Designation : |
Managing director |
|
Address : |
Room No.1001, Mount Blanc, Plot No.550, Jame Jamshed Road, Matunga-CR,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1946 |
|
Qualification : |
Inter Arts |
|
Experience : |
45 Years |
|
Date of Appointment : |
13.11.1987 |
|
PAN No.: |
AABPC1336Q |
|
Voter ID No.: |
MT-06-033-081800 |
|
DIN No.: |
00013206 |
|
|
|
|
Name : |
Mr. Parag Jayant Chheda |
|
Designation : |
Whole time director |
|
Address : |
Room No.1002, Mount Blanc, Plot No.550, Jame Jamshed Road, Matunga-CR,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1971 |
|
Qualification : |
Associate in Business Administration |
|
Experience : |
18 Years |
|
Date of Appointment : |
27.04.1996 |
|
PAN No.: |
AABPC3944L |
|
Voter ID No.: |
MT-06-033-081710 |
|
DIN No.: |
00013222 |
|
|
|
|
Name : |
Mr. Vipul Jayant Chheda |
|
Designation : |
Director |
|
Address : |
Room No.1001, Mount Blanc, Plot No.550, Jame Jamshed Road, Matunga-CR,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1975 |
|
Qualification : |
B. Com |
|
Experience : |
15 Years |
|
Date of Appointment : |
11.03.1997 |
|
PAN No.: |
AABPC3945M |
|
Voter ID No.: |
MT-06-033-081688 |
|
DIN No.: |
00013234 |
KEY EXECUTIVES
|
Name : |
Mr. Rupesh Vadekar |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Jayant Shamji Chheda |
|
3840000 |
|
Parag Jayant Chheda |
|
14398400 |
|
Vipul Jayant Chheda |
|
14400000 |
|
Tarla Jayant Chheda |
|
15312000 |
|
Jayant Shamji Chheda (HUF) |
|
48000 |
|
Heena Parag Chheda |
|
6308 |
|
Ashwini Vipul Chheda |
|
3200 |
|
|
|
|
|
Total |
|
48007908 |
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 UPVC, CPVC and PPR Pipes, Fittings and
Valves. (Registered
Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India · Bank of India Mumbai Mid Corporate, 70/80, M.G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai – 400001, Maharashtra, India · Standard Chartered Bank Narain Manzil, 23, Barakhamba Road, New Delhi, Delhi - 110001, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Khimji Kunverji and Company Chartered Accountants |
|
Address : |
Sunhsine Tower Level 19, Senapat Bapat Marg, Elphistone Road, Mumbai-400013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK1142M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
48007908 |
Equity Shares |
Rs.10/- each |
Rs. 480.079
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 |
480.079 |
240.039 |
120.020 |
|
(b) Reserves & Surplus |
955.695 |
865.837 |
595.242 |
|
(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) |
1435.774 |
1105.876 |
715.262 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
883.117 |
882.814 |
626.093 |
|
(b) Deferred tax liabilities (Net) |
105.951 |
133.180 |
119.241 |
|
(c) Other long term
liabilities |
112.723 |
72.483 |
55.352 |
|
(d) long-term
provisions |
22.569 |
65.328 |
54.854 |
|
Total Non-current
Liabilities (3) |
1124.360 |
1153.805 |
855.540 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2440.036 |
1850.434 |
1168.781 |
|
(b) Trade
payables |
453.628 |
836.607 |
668.920 |
|
(c) Other
current liabilities |
472.441 |
530.069 |
395.788 |
|
(d) Short-term
provisions |
13.319 |
14.645 |
20.065 |
|
Total Current
Liabilities (4) |
3379.424 |
3231.755 |
2253.554 |
|
|
|
|
|
|
TOTAL |
5939.558 |
5491.436 |
3824.356 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2193.252 |
2107.260 |
1547.220 |
|
(ii)
Intangible Assets |
49.179 |
51.643 |
6.674 |
|
(iii)
Capital work-in-progress |
26.331 |
48.213 |
48.688 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.925 |
8.759 |
8.565 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.897 |
13.039 |
1.006 |
|
(e) Other
Non-current assets |
48.749 |
45.210 |
20.403 |
|
Total Non-Current
Assets |
2328.333 |
2274.124 |
1632.556 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1291.977 |
1227.688 |
805.942 |
|
(c) Trade
receivables |
2037.696 |
1719.653 |
1095.509 |
|
(d) Cash
and cash equivalents |
56.093 |
67.600 |
69.986 |
|
(e)
Short-term loans and advances |
175.743 |
165.448 |
167.876 |
|
(f) Other
current assets |
49.716 |
36.923 |
52.487 |
|
Total
Current Assets |
3611.225 |
3217.312 |
2191.800 |
|
|
|
|
|
|
TOTAL |
5939.558 |
5491.436 |
3824.356 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Turnover |
10803.577 |
8530.749 |
5655.481 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
TOTAL |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
617.129 |
711.908 |
260.080 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
264.547 |
211.322 |
159.350 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
352.582 |
500.586 |
100.730 |
|
|
|
|
|
|
|
Less |
TAX |
46.790 |
117.473 |
23.333 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
305.792 |
383.113 |
77.397 |
|
|
|
|
|
|
|
Less/ Add |
EXCESS /(SHORT)
PROVISION FOR TAXATION FOR EARLIER YEARS |
24.105 |
--- |
--- |
|
|
|
|
|
|
|
|
PROFIT FOR THE
YEAR |
329.897 |
383.113 |
77.397 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.36 |
7.98 |
1.61 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.83 |
4.49 |
1.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.97 |
9.21 |
2.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.45 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.31 |
2.47 |
2.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.00 |
0.97 |
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 |
120.020 |
240.039 |
480.079 |
|
Reserves & Surplus |
595.242 |
865.837 |
955.695 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
715.262 |
1105.876 |
1435.774 |
|
|
|
|
|
|
long-term borrowings |
626.093 |
882.814 |
883.117 |
|
Short term borrowings |
1168.781 |
1850.434 |
2440.036 |
|
Total
borrowings |
1794.874 |
2733.248 |
3323.153 |
|
Debt/Equity
ratio |
2.509 |
2.472 |
2.315 |
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) |
|
Turnover |
5655.481 |
8530.749 |
10803.577 |
|
|
|
50.840 |
26.643 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
5655.481 |
8530.749 |
10803.577 |
|
Profit |
77.397 |
383.113 |
305.792 |
|
|
1.37% |
4.49% |
2.83% |
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 |
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 |
No |
|
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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others |
152.000 |
18.480 |
|
Loans and advances from directors |
174.779 |
244.335 |
|
Rupee term loans from others |
994.334 |
509.219 |
|
|
|
|
|
Total |
1321.113 |
772.034 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10597933 |
13/10/2015 |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C67768515 |
|
2 |
10601284 |
13/10/2015 |
3,750,900,000.00 |
Bank of India |
Mumbai Mid
Corporate Branch, Bank of India Bldg., Fort, Mumbai, Maharashtra - 400001, INDIA |
C69486918 |
|
3 |
10449047 |
16/01/2014 * |
2,212,500,000.00 |
BANK OF INDIA |
Mumbai Mid
Corporate, 70/80, M.G. Road, BOI Buil Maharashtra - 400001, INDIA |
B98281249 |
|
4 |
10449048 |
16/01/2014 * |
2,212,500,000.00 |
BANK OF INDIA |
Mumbai Mid Corporate, 70/80, M.G. Road, BOI Building, Mezzanine Floor, Fort, MUMBAI, Maharashtra - 400001, INDIA |
B98283682 |
|
5 |
10432364 |
27/06/2014 * |
500,000,000.00 |
Standard Chartered Bank |
Narain Manzil, 23, Barakhamba Road, New Delhi, Delhi - 110001, INDIA |
C14541742 |
|
6 |
10216211 |
29/07/2015 * |
540,000,000.00 |
Indian Overseas Bank |
Fort Branch,
Tamarind House, 30 & 32, Ground Flo |
C62394333 |
|
7 |
10164208 |
29/07/2015 * |
540,000,000.00 |
Indian Overseas Bank |
Fort Branch,
Tamarind House, 30 & 32,, Ground Flo |
C62394028 |
|
8 |
10156888 |
14/02/2014 * |
2,212,500,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE, 70/80, M.G. ROAD, BANK OF INDIA BUILDING, MEZZANINE FLOOR, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B98292675 |
|
9 |
10143642 |
18/02/2009 |
100,000,000.00 |
3i Infotech Trusteeship Services Limited |
3rd to 6th floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai, Maharashtra - 400703, INDIA |
A57126385 |
|
10 |
10143644 |
18/02/2009 |
80,000,000.00 |
3i Infotech Trusteeship Services Limited |
3rd to 6th floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai, Maharashtra - 400703, INDIA |
A57126963 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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. 66.52 |
|
UK Pound |
1 |
Rs. 100.44 |
|
Euro |
1 |
Rs. 70.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.