MIRA INFORM REPORT
|
Report No. : |
353269 |
|
Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LOKMAT MEDIA PRIVATE LIMITED (w.e.f. 22.05.2012) |
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|
|
|
Formerly Known
As : |
LOKMAT MEDIA LIMITED (w.e.f. 22.11.2010) LOKMAT MEDIA PRIVATE LIMITED (w.e.f. 21.09.2010) LOKMAT NEWSPAPERS PRIVATE LIMITED |
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Registered
Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-22856749 |
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|
Country : |
India |
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Financials (as
on) : |
31.05.2014 |
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|
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Date of
Incorporation : |
21.06.1973 |
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Com. Reg. No.: |
11-016613 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.376.488 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1973PTC016613 |
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|
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IEC No.: |
0388151030 |
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TIN No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAACL1888J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is primarily engaged in the business of
Printing and Publishing of Newspapers, Magazine, Film production and distribution
and Event management activities. (Registered Activity) |
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|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
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 : |
Clear |
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Comments : |
Subject is a Maharashtra-based publishing house that publishes
newspapers in Marathi, Hindi and English. The company has 12 printing
centres, publishing 12 editions and 49 sub-editions of Lokmat in Marathi, with
a pan-Maharashtra presence. It also publishes a Hindi daily, Lokmat Samachar,
with 8 editions and 16 sub-editions, and an English daily, Lokmat Times, with
3 editions and 5 sub-editions, from Nagpur, Aurangabad and Nashik. For 2013-14, company reported net profit of Rs. 690.000 million on net
sales of Rs. 5900.000 million as against net profit of Rs. 615.000 Million on
net sales of Rs. 5100.000 million for 2012-13. Rating continues to reflect company’s strong financial profile marked
by comfortable capital structure, healthy debt protection metrics, and
healthy liquidity. The rating also factors in the market leadership of
Lokmat’s flagship Marathi daily, in Maharashtra. However, rating strengths is partially offset by the relatively
limited market for Marathi dailies, the geographical concentration in
company’s revenue profile, and the susceptibility of its operating margin to
volatility in newsprint prices and to economic downturns. Trade relations are reported as reported as fair. Payments are reported
to be regular and as per commitment. 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 |
CRISIL |
|
Rating |
Long Term Rating: “A+” |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
June 09 2015 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Satish |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-24820000 |
|
Date : |
03.12.2015 |
LOCATIONS
|
Registered Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400 021, Maharashtra, India |
|
Tel. No.: |
91-22-22856749 (4 Lines) /
22028211 / 25856749 / 24820000 to 5 |
|
|
91-9850207900 (Mr. Nitin Nagar) |
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Fax No.: |
91-22-22028211 / 24820010 |
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E-Mail : |
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Website : |
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Corporate Office: |
2nd Floor, Nirlon, A.B Road,
Worli, Mumbai – 400 018, Maharashtra, India |
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Tel. No.: |
91-22-24820000 |
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Fax No.: |
91-22-24820010 |
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Coverage of Lokmat Publishing Centers: |
Located at: · Jalgaon · Dhule · Nandurbar · Amravati · Thane · Ahmednagar · Jalna · Hingoli · Parbhani · Beed · Osmanabad · Buldana · Raigad · Satara · Ratnagiri · Sangli · Sindhudurg · Yavatmal · Chandrapur · Gadhchiroli · Gondia · Wardha · Bhandara · Nashik · Akola Nagpur · Aurangabad · Pune · Nanded · Latur · Solapur · Kolhapur · Goa |
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|
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Lokmat All India National Sales Network: |
Located at: · New Delhi · Jaipur · Lucknow · Ahmedabad · Bhopal · Indore · Baroda · Pune · Mumbai · Jabalpur · Raipur · Kolkata · Secunderabad · Vizag · Bangalore · Coimbatore · Chennai |
DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Rishi Rajendra Darda |
|
Designation : |
Managing Director |
|
Address : |
Lokmat Bhavan, Jalana Road, Aurangabad - 431003, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1978 |
|
Qualification : |
B.Com, PG Diploma In Journalism and MBA |
|
Date of Appointment : |
21.11.2001 |
|
PAN No.: |
AAKPD2934Q |
|
DIN No.: |
00293183 |
|
|
|
|
Name : |
Mr. Devendra Vijay Darda |
|
Designation : |
Managing Director |
|
Address : |
Rahate Colony, Pt. J.N. Marg, Nagpur, Maharashtra, India. |
|
Date of Birth/Age : |
23.11.1974 |
|
Qualification : |
MBA |
|
Date of Appointment : |
20.05.2002 |
|
PAN No.: |
AAAPD9501B |
|
DIN No.: |
00319192 |
|
|
|
|
Name : |
Mr. Vijay Jawaharlal Darda |
|
Designation : |
Whole Time Director |
|
Address : |
‘Yavatmal House’, Rahate Colony, Pt. J.N. Marg, Nagpur - 440022, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1950 |
|
Qualification : |
B.A. Diploma in Journalism |
|
Date of Appointment : |
24.01.1974 |
|
PAN No.: |
AAAPD9500A |
|
DIN No.: |
00009902 |
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|
|
|
Name : |
Mr. Karan Rajendra Darda |
|
Designation : |
Whole Time Director |
|
Address : |
Lokmat Bhavan, Jalana Road, Aurangabad - 431003, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1983 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AGKPD4240R |
|
DIN No.: |
01211502 |
|
|
|
|
Name : |
Mr. Balaji Annarao Muley |
|
Designation : |
Additional Director |
|
Address : |
Shiv Pooja, 229/B, Nandanvan Colony, Aurangabad - 431002, Maharashtra, India |
|
Date of Appointment : |
29.08.2015 |
|
DIN No.: |
00085400 |
KEY EXECUTIVES
|
Name : |
Mr. Satish |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Pragyaparomita Pradeepkumar Banerjee |
|
Designation : |
Secretary |
|
Address: |
F. No-A-2, Sharda Apartment, Dhantoli, Nagpur-440012, Maharashtra, India |
|
Date of Appointment : |
01.12.2014 |
|
PAN No.: |
BZFPB3666J |
MAJOR SHAREHOLDERS
As on 26.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Vijay Darda |
14684417 |
39.00 |
|
Devendra Darda |
4140000 |
11.00 |
|
Rajendra Darda |
10400417 |
27.62 |
|
Ashoodevi Darda |
2808000 |
7.46 |
|
Rishi Darda |
2808000 |
7.46 |
|
Karan Darda |
2808000 |
7.46 |
|
Total |
37648834 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the business of
Printing and Publishing of Newspapers, Magazine, Film production and
distribution and Event management activities. |
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Products : |
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Brand Names : |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
· Bank of India, Nagpur Corporate Banking Branch, S. V. Patel Marg, Kingsway, Nagpur- 440001, Maharashtra, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
M.M Jain and Associates Chartered Accountants |
|
Address : |
202 - 203, Shrimohini Complex, 345, Kingsway, Nagpur- 440001, Maharashtra, India |
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PAN No.: |
AABFM6199F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Jointly Controlled
Entities : |
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Subsidiaries : |
· Lokmat Entertainment Private Limited (liquidated on 7th October 2013) CIN No.: U92190MH2009PTC196077
CIN No.: U40109MH2009PTC196213 |
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Related Enterprises
where Significant influence exist : |
· Darda Investment and Properties Private Limited · Darda Printocrats Private Limited · Regal Publication Private Limited · Media World Enterprises · Goldie Advertising and Marketing Services Private Limited |
CAPITAL STRUCTURE
As on 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37648834 |
Equity Shares |
Rs.10/- each |
Rs.376.488 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.05.2014 |
31.05.2013 |
31.05.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
376.488 |
376.488 |
414.872 |
|
(b) Reserves & Surplus |
3,113.412 |
2,657.045 |
2,638.552 |
|
(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) |
3,489.900 |
3,033.533 |
3,053.424 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
69.588 |
179.620 |
323.540 |
|
(b) Deferred tax liabilities (Net) |
78.171 |
86.303 |
103.985 |
|
(c) Other long term
liabilities |
156.155 |
150.662 |
148.069 |
|
(d) long-term
provisions |
97.375 |
74.031 |
59.703 |
|
Total Non-current
Liabilities (3) |
401.289 |
490.616 |
635.297 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
104.325 |
238.685 |
253.268 |
|
(b) Trade
payables |
294.981 |
146.323 |
193.044 |
|
(c) Other
current liabilities |
757.947 |
478.507 |
380.695 |
|
(d) Short-term
provisions |
249.665 |
363.628 |
13.236 |
|
Total Current
Liabilities (4) |
1,406.918 |
1,227.143 |
840.243 |
|
|
|
|
|
|
TOTAL |
5,298.107 |
4,751.292 |
4,528.964 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1,588.204 |
1,603.313 |
1,723.262 |
|
(ii)
Intangible Assets |
8.705 |
4.618 |
1.076 |
|
(iii)
Capital work-in-progress |
19.536 |
26.531 |
32.976 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
721.761 |
651.974 |
651.974 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
87.950 |
76.742 |
71.733 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2,426.156 |
2,363.178 |
2,481.021 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.687 |
0.687 |
0.687 |
|
(b)
Inventories |
602.102 |
469.118 |
616.448 |
|
(c) Trade
receivables |
1,179.435 |
1,057.559 |
852.094 |
|
(d) Cash
and cash equivalents |
903.131 |
689.187 |
479.934 |
|
(e)
Short-term loans and advances |
41.146 |
106.038 |
38.302 |
|
(f) Other
current assets |
145.450 |
65.525 |
60.478 |
|
Total
Current Assets |
2,871.951 |
2,388.114 |
2,047.943 |
|
|
|
|
|
|
TOTAL |
5,298.107 |
4,751.292 |
4,528.964 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.05.2014 |
31.05.2013 |
31.05.2012 |
||
|
|
SALES |
|
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||
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|
|
Income |
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
TOTAL (A) |
6,081.466 |
5,186.623 |
4,936.113 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL (B) |
4,816.485 |
4,002.186 |
3,908.737 |
|
|
|
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|
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||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1,264.981 |
1,184.437 |
1,027.376 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
52.339 |
62.845 |
88.41 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1,212.642 |
1,121.592 |
938.966 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
239.099 |
249.283 |
242.364 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
973.543 |
872.309 |
696.602 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
283.567 |
257.318 |
210.106 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
689.976 |
614.991 |
486.496 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1,671.072 |
1469.954 |
1032.103 |
||
|
|
|
|
|
|
||
|
Add |
TRANSFER
TO REVALUATION RESERVE |
NA |
0.004 |
0.004 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
NA |
61.499 |
48.649 |
|
|
|
|
Dividend |
NA |
301.191 |
0.000 |
|
|
|
|
Tax on Dividend |
NA |
51.187 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1,671.072 |
1,469.954 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
18.33 |
16.33 |
11.72 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.05.2014 |
31.05.2013 |
31.05.2012 |
|
Current Maturities of Long term debt |
164.740 |
110.280 |
143.600 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.05.2014 |
31.05.2013 |
31.05.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.36 |
21.42 |
18.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.29 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.14 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04 |
1.95 |
2.44 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.05.2012 |
31.05.2013 |
31.05.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs. In
Million |
|
Share Capital |
414.872 |
376.488 |
376.488 |
|
Reserves & Surplus |
2638.552 |
2657.045 |
3113.412 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3053.424 |
3033.533 |
3489.900 |
|
|
|
|
|
|
Long Term borrowings |
323.540 |
179.620 |
69.588 |
|
Short Term borrowings |
253.268 |
238.685 |
104.325 |
|
Current Maturities of Long term debt |
143.600 |
110.280 |
164.740 |
|
Total
borrowings |
720.408 |
528.585 |
338.653 |
|
Debt/Equity
ratio |
0.236 |
0.174 |
0.097 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.05.2012 |
31.05.2013 |
31.05.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
4,936.113 |
5,186.623 |
6,081.466 |
|
|
|
5.075 |
17.253 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.05.2012 |
31.05.2013 |
31.05.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
4,936.113 |
5,186.623 |
6,081.466 |
|
Profit |
486.496 |
614.991 |
689.976 |
|
|
9.86% |
11.86% |
11.35% |
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 |
No |
|
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 |
NATURE OF
OPERATION
The Company is primarily engaged in the business of Printing and Publishing of Newspapers, Magazine, Film production and distribution and Event management activities. Company’s major brands are Lokmat, Lokmat Samachar, Lokmat Times and G2. The Group also derives revenue from the Advertisements published in publications and sale of publications.
FINANCIAL
PERFORMANCE
The company posted another year of impressive results testifying to the robustness of the corporate strategy of creating multiple drivers of growth. The company recorded a Net Profit after tax of Rs.689.976 Million during the year as against a Net Profit of Rs.614.991 Million during the previous financial year. In the years to come the company is looking forward to give to its valuable shareholders continued growth and profits.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10469177 |
07/12/2013 |
186,000,000.00 |
HDFC BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B93139178 |
|
2 |
80027456 |
17/10/1994 |
6,000,000.00 |
BANK OF INDIA |
SITABULDI BRANCH, NAGPUR, Maharashtra - 440009, INDIA |
- |
|
3 |
80027457 |
28/03/2007 * |
40,000,000.00 |
BANK OF INDIA |
SITABULDI
BRANCH, SITABULDI, NAGPUR, Maharashtra |
- |
|
4 |
80027455 |
10/10/2014 * |
230,000,000.00 |
Bank of India |
NAGPUR MID CORPORATE BANKING BRANCH, S V PATEL MARG, KINGSWAY, NAGPUR, Maharashtra - 440001, INDIA |
C32103236 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 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.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
70 |
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.