MIRA INFORM REPORT
|
Report No. : |
352733 |
|
Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AERON SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Floor 503, Plot-2, Supriya Classic, Baner, SN-112/1/3, Taluka-Haveli, Pune-411045, Maharashtra |
|
Tel. No.: |
91-20-65607770/ 65001399 |
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|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
10.11.2008 |
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Com. Reg. No.: |
25-133026 |
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Capital Investment
/ Paid-up Capital : |
Rs. 2.700 Million |
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|
|
CIN No.: [Company Identification
No.] |
U72200PN2008PTC133026 |
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|
|
IEC No.: |
3108016776 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AAHCA3996P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Processing of work of air conditioning Items. (Registered
Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company incorporated in the year 2008. For the financial year ended 2015, the company has limited scale of operations
and earned minimal profit in this year as compared to losses incurred in
previous year. It has small net worth position. However, it has increased its
sales turnover. Trade relations are fair. Business is active. Payments are slow but
correct. 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.
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Ashvani Kumar |
|
Designation : |
Director |
|
Contact No.: |
91-9867341718 |
|
Date : |
03.12.2015 |
|
Name : |
Mr. Abhay Ambekar |
|
Designation : |
Accountant |
|
Contact No.: |
91-20-65607770 |
|
Date : |
03.12.2015 |
LOCATIONS
|
Registered Office : |
Floor 503, Plot-2, Supriya Classic, Baner, SN-112/1/3, Taluka-Haveli, Pune-411045, Maharashtra, India |
|
Tel. No.: |
91-20-65607770/ 65001399 |
|
Fax No.: |
91-20-26055671 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Head Office : |
A – 502, Mitrangan, Opposite Café Coffee Day, Baner Road, Baner, Pune
– 411045, Maharashtra, India |
|
|
|
|
Factory : |
Row House No 9/10, Sroffs Soleno, Near Balewadi Stadium, Mahalunge,
Baner Road, Baner, Pune-411045 Maharashtra, India |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Ashvani Kumar |
|
Designation : |
Director |
|
Address : |
Town: Rajpur, Post: Rajpur, Kanpur Dehat-209115, Uttar Pradesh, India |
|
Date of Birth/Age : |
15.06.1983 |
|
Date of Appointment : |
10.11.2008 |
|
DIN No.: |
02230976 |
|
|
|
|
Name : |
Mr. Abhijit Bokil |
|
Designation : |
Director |
|
Address : |
B.G. 30, 74C Scheme, Vijaynagar, Indore-452010, Madhya Pradesh, India |
|
Date of Birth/Age : |
13.07.1984 |
|
Date of Appointment : |
10.11.2008 |
|
DIN No.: |
02231754 |
|
|
|
|
Name : |
Mrs. Pooja Avinash Agarwal |
|
Designation : |
Director |
|
Address : |
9 Balaji Park Society, Behind Anand Park, Aundh, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1975 |
|
Date of Appointment : |
29.03.2014 |
|
DIN No.: |
06557223 |
KEY EXECUTIVES
|
Name : |
Mr. Abhay Ambekar |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Rajas Bodas and Associates |
|
Designation : |
Company Secretary |
|
Address : |
1346, Sadashiv Peth, 1 B Amruta Apartments, Near Chimanya Ganapati,
Pune – 411030, Maharashtra, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ashvani Kumar |
|
90000 |
|
Mr. Abhijit Bokil |
|
90000 |
|
Growth Spark Consultants LLP |
|
90000 |
|
Total |
|
270000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
66.67 |
|
Other top fifty shareholders |
33.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Processing of work of air conditioning Items. (Registered
Activity) |
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|
Products : |
--- |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
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Facilities : |
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Auditors : |
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Name : |
Mahajan and Bhapkar Chartered Accountants |
|
Address : |
9, Satyalok Co-Operative Housing Society Limited, Near Gadital,
Hadapsar, Pune-411028, Maharashtra, India |
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Pan: |
AANFM5561H |
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Memberships : |
--- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on: 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
270,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.700 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.700 |
2.472 |
1.300 |
|
(b) Reserves & Surplus |
7.593 |
5.660 |
0.003 |
|
(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) |
10.293 |
8.132 |
1.303 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6.618 |
2.494 |
0.749 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.036 |
0.016 |
|
(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) |
6.618 |
2.530 |
0.765 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
4.434 |
3.636 |
4.096 |
|
(b) Trade
payables |
2.058 |
1.323 |
2.568 |
|
(c) Other
current liabilities |
1.324 |
0.520 |
1.316 |
|
(d) Short-term
provisions |
0.441 |
0.479 |
0.340 |
|
Total Current
Liabilities (4) |
8.257 |
5.958 |
8.320 |
|
|
|
|
|
|
TOTAL |
25.168 |
16.620 |
10.388 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5.155 |
3.804 |
1.407 |
|
(ii)
Intangible Assets |
0.000 |
0.050 |
0.058 |
|
(iii)
Capital work-in-progress |
9.205 |
3.506 |
1.144 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.157 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.020 |
0.030 |
0.040 |
|
Total Non-Current
Assets |
14.537 |
7.390 |
2.649 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.278 |
0.072 |
0.114 |
|
(b)
Inventories |
4.462 |
6.488 |
3.395 |
|
(c) Trade receivables |
5.454 |
2.122 |
3.791 |
|
(d) Cash
and cash equivalents |
0.054 |
0.158 |
0.249 |
|
(e)
Short-term loans and advances |
0.090 |
0.088 |
0.050 |
|
(f) Other
current assets |
0.293 |
0.301 |
0.140 |
|
Total
Current Assets |
10.631 |
9.229 |
7.739 |
|
|
|
|
|
|
TOTAL |
25.168 |
16.619 |
10.388 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
22.015 |
8.382 |
9.036 |
|
|
|
Other Income |
0.055 |
0.145 |
0.051 |
|
|
|
TOTAL (A) |
22.070 |
8.527 |
9.087 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
9.547 |
4.357 |
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.182 |
(2.677) |
|
|
|
|
Employees benefits expense |
3.815 |
2.253 |
|
|
|
|
Other expenses |
3.733 |
3.405 |
|
|
|
|
TOTAL (B) |
20.277 |
7.338 |
9.016 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.793 |
1.189 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.656 |
0.729 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
1.137 |
0.460 |
|
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1.206 |
0.430 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(0.069) |
0.030 |
0.071 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.080) |
0.050 |
(0.031) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
0.011 |
(0.020) |
0.102 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.795 |
0.768 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.04 |
(0.08) |
0.78 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.05 |
(0.24) |
1.13 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.14 |
14.19 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.44) |
0.23 |
0.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.00 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.07 |
0.75 |
3.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
1.55 |
0.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
1.300 |
2.472 |
2.700 |
|
Reserves & Surplus |
0.003 |
5.660 |
7.593 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1.303 |
8.132 |
10.293 |
|
|
|
|
|
|
long-term borrowings |
0.749 |
2.494 |
6.618 |
|
Short term borrowings |
4.096 |
3.636 |
4.434 |
|
Total borrowings |
4.845 |
6.130 |
11.052 |
|
Debt/Equity ratio |
3.718 |
0.754 |
1.074 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
9.036 |
8.382 |
22.015 |
|
|
|
(7.238) |
162.646 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
9.036 |
8.382 |
22.015 |
|
Profit (Loss) |
0.102 |
(0.020) |
0.011 |
|
|
1.13% |
(0.24%) |
0.05% |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 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 |
Note:
Registered Office of
the company has been shifted from “Sai Villa, 1st Floor. No. 3/10, Opposite
Barate Bungalow, Anand Colony, Near Birdies School, Karvenagar, Pune - 411052,
Maharashtra, India” to the present address w.e.f. 12.03.2015.
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Particular |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Unsecured |
1.463 |
0.763 |
|
Total |
1.463 |
0.763 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10447712 |
16/08/2013 |
7,000,000.00 |
SIDBI |
JEEVAN SHREE BUILDING,
GROUND FLOOR, S. NO .1109, |
B84336882 |
|
2 |
10177943 |
25/09/2009 |
1,235,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A70522321 |
|
3 |
10177942 |
25/03/2013 * |
3,450,000.00 |
IDBI BANK LIMITED |
BEAVER GRANDEUR, S. NO.1, HISSA NO. 3, PLOT NO. A-1+A-2 BANER ROAD, PUNE - 411045, MAHARASHTRA, INDIA |
B73450736 |
* Date
of charge modification
FIXED ASSETS:
- Land
- Building
- Office equipment
- Plant and Machinery
- Vehicles
- Furniture and fixture
- Computer and software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No
press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
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 |
|
28 |
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.