MIRA INFORM REPORT
|
Report No. : |
352614 |
|
Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
BRINTONS CARPETS ASIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 414/ 415/ 416, Village Urwade, Taluka Mulshi, District Pune –
412108, Maharashtra |
|
Tel. No.: |
91-20-22929208 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
21.10.1997 |
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|
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Com. Reg. No.: |
11-014590 |
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Capital
Investment / Paid-up Capital : |
Rs.340.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17226PN1997PTC014590 |
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|
|
IEC No.: |
0398048479 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEB02333C |
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PAN No.: [Permanent Account No.] |
AAACB7059H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Exporting and Importing of Machine made Axminster woven
carpet and spun yarn. (Confirmed by management) |
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No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “Brintons Carpets Limited, United Kingdom”.
It is a well-established company having fine track record. During financial year 2014, the company has marginal decline in sales
turnover which has resulted into dip in profit of the company. However, the rating takes into consideration on company’s healthy
financial risk profile supported by strong capital structure along with zero debt
balance sheet and financial as well as managerial support that company
receives from its holding company. Trade relations are reported as fair. Business is active. Payment are
reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. Note: As per registrar of companies the date of balance sheet (i.e.
financial filed) is show as 31.03.2015 but the documents related to the
financials are not been available from any sources. |
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=A- |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
|
Date |
03.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
03.04.2014 |
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 PARTED BY
|
Name : |
Mr. Rahul |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-20-66758220 |
|
Date : |
02.12.2015 |
LOCATIONS
|
Registered / Corporate Office / Factory : |
Plot No. 414/ 415/ 416, Village Urwade, Taluka Mulshi, District Pune -
412108, Maharashtra, India |
|
Tel. No. : |
91-20-66758220/2013 |
|
Mobile No.: |
91-8605013398 [Mr. Sachin Pawar] |
|
Fax No.: |
91-20-22929233/ 24101396/66758233 |
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Email : |
|
|
Website : |
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|
Area: |
24 Acres |
|
Location : |
Owned |
|
|
|
|
Sales Office : |
Luhia Jain, IT Park, Kothrud, Pune, Maharashtra, India (w.e.f 01.11.2011) |
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Overseas Offices : |
Located At: · Singapore · Sanghai · Brunei · Tamuning · Hong Kong · Indonesia · Japan 1020083 · Kazakhstan · Seoul · Malaysia · Philippines · Russia, · Colombo · Korea · Taiwan · Vietnam · Dubai |
DIRECTORS
As on 28.09.2015
|
Name : |
Andrew John Edwards |
|
Designation : |
Director |
|
Address : |
The Newmarch, 1 Ludlow Gate, Bridgnorth, WV165AB, United Kingdom |
|
Date of Appointment : |
02.05.2013 |
|
DIN No.: |
06591374 |
|
|
|
|
Name : |
Duccio Latino Senese Baldi |
|
Designation : |
Director |
|
Address : |
The Old Barn, The Ham, Coaley, Gloucestershire GL11 5AS, Dursley, NA, United Kingdom |
|
Date of Appointment : |
08.08.2014 |
|
DIN No.: |
06937047 |
|
|
|
|
Name : |
Mr. Prakash Shankar Basannavar |
|
Designation : |
Managing Director |
|
Address : |
Sno.126/1a, Kunal Icon Pim, Saudagar Bld.D/6, Flat-304, Pune - 411027, Maharashtra, India |
|
Date of Appointment : |
28.01.2012 |
|
DIN No.: |
05214338 |
|
|
|
|
Name : |
Mr. Robert David Greenfield |
|
Designation : |
Director |
|
Address : |
4 Burghley Drive, Kidderminster, Kidderminster, Dy116bb, United Kingdom |
|
Date of Appointment : |
23.09.2015 |
|
DIN No.: |
07280404 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul |
|
Designation : |
Senior Manager |
|
|
|
|
Name : |
Mr. Anusaya Jairam Vighne |
|
Designation : |
Secretary |
|
Address : |
B-4, Flat No-14, Ikar Society, Paud Road, Kothrud, Pune - 411038, Maharashtra, India |
|
Date of Appointment : |
01.04.2015 |
|
PAN No.: |
AIUPV3125D |
|
|
|
|
Name : |
Sandeep Gandhi and Company |
|
Designation : |
Company Secretary |
|
Address : |
3, Vasant Vihar, 17, New Nagardas X Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel No.: |
91-22-28360152 |
|
Mobile No.: |
91-9820715730 |
|
Email.: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Brintons Carpets Limited, United Kingdom |
|
3399997 |
|
Brintons Overseas Holding Limited, United Kingdom |
|
3 |
|
Total |
|
3400000 |
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2015
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Exporting and Importing of Machine made Axminster woven
carpet and spun yarn. (Confirmed by management) |
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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 : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Cheque (30 / 60 Days) |
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Purchasing : |
Cash and Cheque (30 / 60 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
MZSK and Associates Chartered Accountants |
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Address : |
102 First Floor Ganraj Market Plot No. 438 To 441 Gate No. 2 Market Yard Pune – 411037, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFK3470E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
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Ultimate Holding
company: |
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Fellow Subsidiary
Company: |
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CAPITAL STRUCTURE
As on 23.09.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3400000 |
Equity Shares |
Rs.100/- each |
Rs.340.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
3400000 |
Equity Shares |
Rs.100/- each |
Rs.340.000 Million |
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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 |
340.000 |
340.000 |
340.000 |
|
(b) Reserves & Surplus |
771.926 |
694.123 |
594.898 |
|
(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) |
1111.926 |
1034.123 |
934.898 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
77.341 |
|
(b) Deferred tax liabilities
(Net) |
24.108 |
15.928 |
17.875 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.850 |
8.289 |
13.246 |
|
Total
Non-current Liabilities (3) |
32.958 |
24.217 |
108.462 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
176.555 |
|
(b) Trade payables |
85.423 |
214.686 |
367.731 |
|
(c) Other current liabilities |
45.441 |
76.742 |
66.191 |
|
(d) Short-term provisions |
21.167 |
44.739 |
46.484 |
|
Total
Current Liabilities (4) |
152.031 |
336.167 |
656.961 |
|
|
|
|
|
|
TOTAL |
1296.915 |
1394.507 |
1700.321 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
575.353 |
430.132 |
445.609 |
|
(ii) Intangible Assets |
10.582 |
8.608 |
6.210 |
|
(iii) Capital work-in-progress |
18.996 |
179.468 |
1.354 |
|
(iv) Intangible assets under
development |
0.000 |
0.059 |
0.029 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
29.770 |
30.166 |
25.791 |
|
(e) Other Non-current assets |
10.143 |
1.199 |
14.757 |
|
Total
Non-Current Assets |
644.844 |
649.632 |
493.750 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
269.355 |
308.890 |
306.930 |
|
(c) Trade receivables |
297.800 |
325.776 |
848.891 |
|
(d) Cash and cash equivalents |
24.812 |
29.190 |
1.496 |
|
(e) Short-term loans and
advances |
59.916 |
79.175 |
46.655 |
|
(f) Other current assets |
0.188 |
1.844 |
2.599 |
|
Total
Current Assets |
652.071 |
744.875 |
1206.571 |
|
|
|
|
|
|
TOTAL |
1296.915 |
1394.507 |
1700.321 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
1260.658 |
1345.352 |
1267.231 |
|
|
Other Income |
4.605 |
50.430 |
88.788 |
|
|
TOTAL
|
1265.263 |
1395.782 |
1356.019 |
|
|
|
|
|
|
|
Less |
OPERATING
EXPENSES |
1074.986 |
1181.807 |
1111.951 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
190.277 |
213.975 |
244.068 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.427 |
9.260 |
25.188 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
189.850 |
204.715 |
218.880 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
65.850 |
55.685 |
54.129 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
124.000 |
149.030 |
164.751 |
|
|
|
|
|
|
|
Less |
TAX |
46.198 |
49.805 |
57.642 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
77.802 |
99.225 |
107.109 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
870.002 |
1004.248 |
976.022 |
|
|
Design Services |
92.015 |
94.299 |
81.971 |
|
|
Freight & insurance
recovered on export sales |
25.727 |
27.355 |
36.481 |
|
|
TOTAL
EARNINGS |
987.744 |
1125.902 |
1094.474 |
|
|
|
|
|
|
|
|
CIF VALUE OF IMPORTS |
483.219 |
711.590 |
653.059 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
22.88 |
29.18 |
31.50 |
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 |
116.286 |
575.548 |
110.700 |
|
Net cash flow from operating activity |
54.690 |
511.407 |
67.238 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.17 |
7.38 |
8.45 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.09 |
15.90 |
19.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.70 |
12.27 |
9.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.14 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.29 |
2.22 |
1.84 |
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 |
340.000 |
340.000 |
340.000 |
|
Reserves & Surplus |
594.898 |
694.123 |
771.926 |
|
Net
worth |
934.898 |
1034.123 |
1111.926 |
|
|
|
|
|
|
long-term borrowings |
77.341 |
0.000 |
0.000 |
|
Short term borrowings |
176.555 |
0.000 |
0.000 |
|
Total
borrowings |
253.896 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.272 |
0.000 |
0.000 |
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) |
|
Sales |
1267.231 |
1345.352 |
1260.658 |
|
|
|
6.165 |
(6.295) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1267.231 |
1345.352 |
1260.658 |
|
Profit |
107.109 |
99.225 |
77.802 |
|
|
8.45% |
7.38% |
6.17% |
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 |
Yes |
|
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 |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The registered office of the company has
been shifted from Sant Singh Mokha’s Bunglow, 60 Anand Park, Street No.2,
Aundh, Pune – 411 007, India to the present address w.e.f. 28.07.1999
OPERATIONAL PERFORMANCE:
The Revenue from operations during the year decreased marginally by 6.72% from Rs. 1345.352 Million during the previous year to Rs 1260.658 Million in the Current Year. This is mainly due to lower production on account of reduced global demand. The Company has earned Cash Profit of Rs. 189.851 M and net profit of Rs. 77.802 Million as against previous year figures of Rs. 204.715 Million and net profit of Rs. 99.225 Million respectively. Previous year profit was higher due to gain on foreign exchange fluctuation of Rs 39.968 Million against loss of Rs 0.156 Million for current year.
BACKGROUND
Subject was incorporated on 21 October 1997 as a 100% export oriented unit (EOU). During the year 2009, the Company has deregistered itself from being an EOU. The entire share capital of the Company was held by Brintons Limited, UK and Brintons Overseas Holding Limited. During September 2011, shares of BRASIA were acquired by Brintons Carpets Limited, UK from the existing shareholders.
The Company manufactures and sells machine made woven woolen carpets and spun yarn. A substantial portion of BRASIA’s production is sold to Brintons Carpets Limited., UK and the remainder is sold in the local market. The manufacturing facility of BRASIA is located at Pirangut, Pune.
The Company also renders IT enabled design, planning and estimation services to Brintons Carpets Limited, UK in connection with manufacture of carpets.
LITIGATION DETAILS:
HIGH
COURT OF BOMBAY
|
Case
Details |
|
Bench:-Bombay |
|
Lodging No.:- |
ITXAL/1496/2011 |
Filing Date:- |
24/11/2011 |
Reg. No.:- |
ITXA/180/2012 |
Reg. Date:- |
10/02/2012 |
|
Petitioner:- |
COMMISSIONER OF INCOME TAX I- |
Respondent:- |
BRINTONS CARPETS ASIA PRIVATE
LIMITED - |
|
Petn.Adv.:- |
VIMAL GUPTA (0) |
Resp.Adv.:- |
ATUL K. JASANI (0) |
|
District:- |
PUNE |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Admitted(Unready) |
Category:- |
TAX APPEALS |
||
|
|
Last Date:- |
18/02/2013 |
Stage:- |
FOR DIRECTION |
|
|
|
Last Coram:- |
HON’BLE SHRI JUSTICE J.P.
DEVADHAR HON’BLE SHRI JUSTICE M.S.
SANKLECHA |
|
||
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
206A |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10385086 |
16/03/2015 * |
40,000,000.00 |
PUNJAB NATIONAL BANK |
KOTHRUD, PUNE, Maharashtra - 411038, INDIA |
C49267792 |
|
2 |
10190764 |
24/02/2010 * |
150,000,000.00 |
BANK OF BARODA CORPORATE FINANCIAL SERVICES BRANCH |
MANTRI COURT 39 RAMABAI AMBEDKAR ROAD, PUNE, Maharashtra - 411001,
INDIA |
A81663247 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Other money for which company is contingently liable |
172.155 |
173.094 |
|
|
|
|
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor 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,
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.66.61 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
62 |
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.