MIRA INFORM REPORT
|
Report No. : |
354036 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
QUTONE CERAMIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 163/1 & 163/2, B/H Varmo Granito Private Limited,
Taluka Wankaner, Dhuva – 363622, Gujarat |
|
Tel. No.: |
91-79-40300075 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.10.2008 |
|
|
|
|
Com. Reg. No.: |
04-055178 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933GJ2008PTC055178 |
|
|
|
|
IEC No.: |
2409000592 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
RKTQ00018E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACQ1841L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ceramic Tiles. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
180 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in 2008, and it is engaged in manufacturing of
ceramic wall tiles and vitrified floor tiles. It is a closely held private
limited company promoted its promoters who have wide experience in the tile
manufacturing industry. The ratings derive strength from the wide experience of the promoters
in the tiles industry, established marketing and distribution network,
effective working capital management and increasing scale of operations
along-with improvement in profitability. The ratings are, however, constrained due to susceptibility of its
profitability margins to volatile input prices, modest scale of operations
and its presence in the highly competitive ceramic tile manufacturing
industry which has close linkages to the cyclical real estate sector. However, trade relations are fair. Business is active. Payment terms
ae reported as usually correct. In view of aforesaid, the company can be considered for business
dealings usual trade terms and conditions.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities (BBB-) |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
November 04, 2014 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (A3) |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
November 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. Ankit |
|
Designation : |
Export Department |
|
Contact No.: |
91-79-40300075 |
|
Date : |
08.12.2015 |
LOCATIONS
|
Registered Office/ Factory 1: |
Survey No. 163/1 & 163/2, B/H Varmo Granito Private Limited,
Taluka Wankaner, Dhuva – 363622, Gujarat, India |
|
Tel. No.: |
91-79-40300075 |
|
Fax No.: |
91-79-40063338 |
|
E-Mail : |
|
|
Web Site |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory 2: |
8-A, National Highway, At Dhuva, Taluka: Wankanet District Rajkot,
Gujarat, India |
|
|
|
|
Head Office: |
11, Titanium, Corporate Road, Opposite Prahalad Nagar, Garden, Sattellite, Ahmedabad-380015, Gujarat, India |
|
Tel. No.: |
91-79-26761780 |
|
Fax No.: |
91-79-40063338 |
|
|
|
|
Regional Offices |
|
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Madanlal Manojkumar Agarwal |
|
Designation : |
Director |
|
Address : |
B-31, Rivera Hights, Opposite Reliance Petrol Pump, Anand Nagar Road,
Vejalpur, Ahmedabad – 380051, Gujarat, India |
|
Date of Birth/Age : |
15.09.1969 |
|
Date of Appointment : |
06.10.2008 |
|
DIN No.: |
02341175 |
|
|
|
|
Name : |
Mr. Harish Beenal Arora Adlakha |
|
Designation : |
Director |
|
Address : |
C-0402, Ambience Island, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
06.06.1978 |
|
Date of Appointment : |
06.10.2008 |
|
DIN No.: |
02341473 |
|
|
|
|
Name : |
Mr. Sitaramji Sunil Manglunia |
|
Designation : |
Director |
|
Address : |
B-14, Mukherjee, Colony, Shastari Nagar, Jaipur – 302016, Rajasthan,
India |
|
Date of Birth/Age : |
30.01.1976 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
02348121 |
|
|
|
|
Name : |
Mr. Kunvarjibhai Jagdish Dalsaniya |
|
Designation : |
Director |
|
Address : |
10, Mahendra Para, District Rajkot, Morbi – 363641, Gujarat, India |
|
Date of Birth/Age : |
12.08.1977 |
|
Date of Appointment : |
14.03.2009 |
|
DIN No.: |
02591958 |
|
|
|
|
Name : |
Mr. Rajeev Adlakha |
|
Designation : |
Director |
|
Address : |
C-0402, Ambience Island, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
19.07.1975 |
|
Date of Appointment : |
22.09.2014 |
|
DIN No.: |
02472895 |
KEY EXECUTIVES
|
Name : |
Mr. Ankit |
|
Designation : |
Export Department |
|
|
|
|
Name : |
R. V. Gandhi and Company |
|
Designation : |
Company Secretary |
|
Address :P |
C – 3/204, Anushruti Tower, Next to Maukti Dham, Derasar, Thaltej Cross
Road, Thaltej, Ahmedabad, Gujarat, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Manoj Agarwal |
|
670600 |
|
Sunita Agarwal |
|
50000 |
|
Amit Kamdar |
|
414500 |
|
Anilkumar Manglunia |
|
295000 |
|
Beenal Adhlakha |
|
475000 |
|
Jagdish Dalsaniya |
|
79250 |
|
Sunil Manglunia |
|
275000 |
|
Dinesh Agarwal |
|
39806 |
|
Gagan Arora and Sons |
|
10000 |
|
Malik Investment Private Limited, India |
|
153256 |
|
Manojkumar Bharuka and Sons (Huf) |
|
60000 |
|
Oswal Service Private Limited, India |
|
396744 |
|
Parulben Jagdishbhai |
|
8600 |
|
Rukmanidevi Kamdar |
|
6500 |
|
Suresh Agarwal |
|
42000 |
|
Rajeev Adlakha |
|
1744 |
|
Vipul Harjivanbhai |
|
22000 |
|
|
|
|
|
Total |
|
3000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
18.33 |
|
Directors or relatives of Directors |
81.67 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ceramic Tiles. (Confirmed by management) |
|
|
|
|
Products : |
--- |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Saudi Arabia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Credit |
|
|
|
|
Purchasing : |
Cheque and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers
|
|||||||||||||||||||||||||||
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|
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|
No. of Employees : |
180 (Approximately) |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
Bajaj Finance Limited, Akurdi Pune, Mumbai Pune Road, Pune
- 411035, Maharashtra , India |
|
|
|
|
Auditors : |
|
|
Name : |
Patel Soni Shah and Company Chartered Accountants |
|
Address : |
901-902, Shilp Tower, Tagore Road, Rajkot – 360002, Gujarat, India |
|
E-Mail : |
|
|
|
|
|
Memberships : |
---- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiaries : |
Qutone Tiles Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 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 |
30.000 |
30.000 |
27.470 |
|
(b) Reserves & Surplus |
117.742 |
97.411 |
63.407 |
|
(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) |
147.742 |
127.411 |
90.877 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
57.860 |
74.943 |
43.691 |
|
(b) Deferred tax liabilities (Net) |
13.658 |
7.785 |
4.161 |
|
(c) Other long term
liabilities |
9.932 |
2.706 |
14.079 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
81.450 |
85.434 |
61.931 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
68.912 |
110.490 |
46.386 |
|
(b) Trade payables |
110.346 |
58.357 |
79.902 |
|
(c) Other current
liabilities |
39.650 |
30.828 |
17.631 |
|
(d) Short-term
provisions |
7.338 |
4.508 |
2.917 |
|
Total Current
Liabilities (4) |
226.246 |
204.183 |
146.836 |
|
|
|
|
|
|
TOTAL |
455.438 |
417.028 |
299.644 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
176.856 |
150.642 |
121.743 |
|
(ii) Intangible Assets |
2.845 |
0.206 |
0.245 |
|
(iii) Capital work-in-progress |
0.000 |
0.070 |
19.555 |
|
(iv) Intangible assets under development |
0.000 |
2.305 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
61.947 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.588 |
5.648 |
9.930 |
|
(e) Other
Non-current assets |
0.020 |
0.102 |
0.184 |
|
Total Non-Current
Assets |
183.309 |
220.920 |
151.657 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
79.545 |
63.009 |
50.977 |
|
(c) Trade receivables |
161.465 |
88.505 |
52.429 |
|
(d) Cash and cash
equivalents |
15.891 |
14.917 |
24.706 |
|
(e) Short-term loans
and advances |
14.765 |
29.149 |
19.378 |
|
(f) Other current
assets |
0.463 |
0.528 |
0.497 |
|
Total Current Assets |
272.129 |
196.108 |
147.987 |
|
|
|
|
|
|
TOTAL |
455.438 |
417.028 |
299.644 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
895.911 |
676.125 |
401.774 |
|
|
|
Other Income |
8.420 |
4.676 |
1.902 |
|
|
|
TOTAL |
904.331 |
680.801 |
403.676 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
743.908 |
527.737 |
|
|
|
|
Other Indirect Taxes |
91.875 |
101.857 |
|
|
|
|
TOTAL |
835.783 |
629.594 |
381.403 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
68.548 |
51.207 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
22.263 |
19.965 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
46.285 |
31.242 |
22.273 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.788 |
12.082 |
7.892 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
31.497 |
19.160 |
14.381 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.382 |
7.455 |
3.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
21.115 |
11.705 |
11.211 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
27.411 |
16.177 |
5.029 |
|
|
|
|
|
|
|
|
|
Add |
Earlier
year excess proposed dividend and dividend distribution tax |
(0.182) |
(0.120) |
(0.063) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
0.600 |
0.300 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
0.051 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
47.744 |
27.411 |
16.177 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.04 |
3.90 |
3.74 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
23.602 |
24.182 |
11.812
|
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.36 |
1.73 |
2.79 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.65 |
7.57 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.92 |
5.43 |
5.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.15 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.02
|
1.65 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
0.96 |
1.01 |
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 |
27.470 |
30.000 |
30.000 |
|
Reserves & Surplus |
63.407 |
97.411 |
117.742 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
90.877 |
127.411 |
147.742 |
|
|
|
|
|
|
long-term borrowings |
43.691 |
74.943 |
57.860 |
|
Short term borrowings |
46.386 |
110.490 |
68.912 |
|
Current maturities of
long-term debts |
11.812 |
24.182 |
23.602 |
|
Total borrowings |
101.889 |
209.615 |
150.374 |
|
Debt/Equity ratio |
1.121 |
1.645 |
1.018 |
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 |
401.774 |
676.125 |
895.911 |
|
|
|
68.285 |
32.507 |
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 |
401.774 |
676.125 |
895.911 |
|
Profit |
11.211 |
11.705 |
21.115 |
|
|
2.79% |
1.73% |
2.36% |
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) |
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 |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY
PERFORMANCE:
Revenue from Operations was Rs. 895.911 Million for the year ended March
31, 2014 as compared to Rs. 676.125 Million in the previous year, at a growth
rate of 32.51%. Profit before Tax of our company is amounting to Rs. 31.497.
Jumped by 64.39% compared to the previous year. The major contributing factors
for such all-round performance across geographies and industry verticals were
the company’s best quality products manufacturing and its ability to innovate
new vide range of products with changing human mentality and needs with rigor
on its policy to manufacture best quality products.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
Long term
borrowings |
|
|
|
Shareholders |
0.316 |
16.721 |
|
From directors |
0.082 |
2.700 |
|
From friends and relatives |
10.000 |
12.683 |
|
|
|
|
|
Total |
10.398 |
32.104 |
FIXED ASSETS
- Land
- Buildings
- Plant and Machinery
- Furniture and Fixture
- Office Equipments
- Computers
- Vehicles
- Computer Software
- Trade mark
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10582365 |
21/07/2015 |
11,560,000.00 |
BAJAJ FINANCE LIMITED |
AKURDI PUNE, MUMBAI PUNE ROAD, PUNE - 411035, Maharashtra , INDIA |
C60015757 |
|
2 |
10567718 |
16/01/2015 |
316,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra, INDIA |
C52817178 |
|
3 |
10541352 |
09/01/2015 |
5,400,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra, INDIA |
C39627914 |
* Date
of charge modification
FIXED ASSETS
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.66.80 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.