MIRA INFORM REPORT
|
Report No. : |
352946 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
VINFAB ENGINEERS INDIA PRIVATE LIMITED [w.e.f 23.01.2013] |
|
|
|
|
Formerly Known
As : |
RENTON STEEL FEBRICATORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
510, 5th floor, Sanjar Enclave, Above Mahindra Show Room,
S.V Road, Kandivali (West), Mumbai-400067, Maharashtra |
|
Tel. No.: |
91-22-429515013 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
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|
|
|
Date of
Incorporation : |
25.03.1982 |
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|
|
|
Com. Reg. No.: |
11-026771 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.5.160 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH1982PTC026771 |
|
|
|
|
IEC No.: |
Not Divulged |
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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.] |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Electro forged Gratings, Cable Trays,
Transmission Line Towers etc. [Confirmed by management] |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established private limited company having satisfactory
track. It is a part of V.K. Group. The rating takes into consideration moderate financial risk profile of
the subject marked by decent increase in its revenue base along with
comfortable capital structure of the company in FY15. There has reported
increase in its debt level in the year under consideration. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 PARTED BY
|
Name : |
Mr. Biju Agarwal |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9004664812 |
|
Date : |
05.12.2015 |
LOCATIONS
|
Registered Office : |
510, 5th floor, Sanjar Enclave, Above Mahindra Show Room,
S.V Road, Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Tel. No.: |
91-22-429515013 |
|
Mobile No.: |
91-9004664812 [Mr. Biju Agarwal] |
|
Fax No.: |
91-22-42950150 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
1500 Sq. Ft. |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory : |
Gate No.224/1 and 2, Bhiwandi Wada State Highway, Village-Khupri,
Thane - 421302, Maharashtra, India |
|
Area : |
2 Acer |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2015
|
Name : |
Mr. Deepak Jagannath Kandhari |
|
Designation : |
Director |
|
Address : |
58, Guru Smruti, Ashok Nagar Cross Road 2, Kandivali (West),
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1951 |
|
Date of Appointment : |
01.01.1996 |
|
DIN No.: |
01690721 |
|
|
|
|
Name : |
Mr. Vinay Deepak Kandhari |
|
Designation : |
Director |
|
Address : |
58, Guru Smruti, Ashok Nagar Cross Road 2, Kandivali (West),
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1986 |
|
Date of Appointment : |
23.09.2004 |
|
DIN No.: |
01690734 |
|
|
|
|
Name : |
Mrs. Chanchal Deepak Kandhari |
|
Designation : |
Director |
|
Address : |
58, Guru Smruti, Ashok Nagar Cross Road 2, Kandivali (West),
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1955 |
|
Date of Appointment : |
01.01.1996 |
|
DIN No.: |
01690754 |
KEY EXECUTIVES
|
Name : |
Mr. Biju Agarwal |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2015
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Deepak J. Kandhari |
29145 |
56.48 |
|
Chanchal D. Kandhari |
13600 |
26.36 |
|
Vinay D. Kandhari |
8855 |
17.16 |
|
|
|
|
|
Total |
51600 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2015
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electro forged Gratings, Cable Trays,
Transmission Line Towers etc. [Confirmed by management] |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
|
Countries : |
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Imports : |
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Products : |
Machinery |
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Countries : |
Italy |
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Terms : |
|
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
Notes: Plant and Machinery Loan from KHSB Bank for Rs. 6.500 Million with
drawing power of Rs.2.405 Million is secured against hypothecation of loan
for the tenure of 5 years @13%interest rate. |
|
Auditors : |
|
|
Name : |
AMPAC and Associates Chartered Accountants |
|
Address : |
D-102, Greenlawn Apartment, Opposite ST Plus Collage, Arrey Road,
Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Telefax No.: |
91-22-2927099/ 29270104 |
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Email: |
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|
Website: |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFD4602R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000 |
Equity Shares |
Rs.100/- each |
Rs.5.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51600 |
Equity Shares |
Rs.10/- each |
Rs.5.160
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 |
5.160 |
5.160 |
2.000 |
|
(b) Reserves &
Surplus |
27.785 |
26.028 |
1.947 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.050 |
|
Total Shareholders’ Funds
(1) + (2) |
32.945 |
31.188 |
3.997 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1.809 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.316 |
0.090 |
0.000 |
|
(c) Other long term
liabilities |
4.663 |
5.166 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
6.788 |
5.256 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
83.652 |
80.590 |
0.000 |
|
(b) Trade payables |
60.310 |
81.387 |
0.000 |
|
(c) Other current
liabilities |
3.944 |
1.169 |
1.536 |
|
(d) Short-term provisions |
0.409 |
1.994 |
0.061 |
|
Total Current Liabilities
(4) |
148.315 |
165.140 |
1.597 |
|
|
|
|
|
|
TOTAL |
188.048 |
201.584 |
5.594 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
14.210 |
12.355 |
2.289 |
|
(ii) Intangible Assets |
0.576 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.344 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.693 |
2.283 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.690 |
0.682 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
17.169 |
15.664 |
2.289 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
34.376 |
48.602 |
0.090 |
|
(c) Trade receivables |
89.382 |
94.129 |
2.343 |
|
(d) Cash and cash
equivalents |
10.817 |
13.156 |
0.075 |
|
(e) Short-term loans and
advances |
36.304 |
32.033 |
0.500 |
|
(f) Other current assets |
0.000 |
0.000 |
0.297 |
|
Total Current Assets |
170.879 |
187.920 |
3.305 |
|
|
|
|
|
|
TOTAL |
188.048 |
203.584 |
5.594 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
378.413 |
281.541 |
1.401 |
|
|
Other Income |
2.670 |
2.524 |
0.312 |
|
|
TOTAL (A) |
381.083 |
284.065 |
1.713 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
292.683 |
244.632 |
0.535 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
7.484 |
(26.035) |
0.000 |
|
|
Employees benefits
expense |
5.716 |
5.260 |
0.378 |
|
|
Other expenses |
57.379 |
47.030 |
0.474 |
|
|
TOTAL (B) |
363.262 |
270.887 |
1.387 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
17.821 |
13.178 |
0.326 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
12.555 |
8.341 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.266 |
4.837 |
0.326 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.099 |
1.829 |
0.270 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
3.167 |
3.008 |
0.056 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1.410 |
1.048 |
0.033 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
1.757 |
1.960 |
0.023 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
3.453 |
1.492 |
1.469 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/ |
5.210 |
3.452 |
1.492 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
34.05 |
38.0 |
1.17 |
Expected Sales (2015-2016): Rs.450.000 Million
The above information has been parted by Mr. Biju Agarwal (Marketing
Manager).
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 (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.46 |
0.70 |
1.64 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.71 |
4.68 |
23.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.70 |
1.50 |
1.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.10 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.59 |
2.58 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.14 |
2.07 |
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 |
2.000 |
5.160 |
5.160 |
|
Reserves & Surplus |
1.947 |
26.028 |
27.785 |
|
Share Application money
pending allotment |
0.050 |
0.000 |
0.000 |
|
Net worth |
3.997 |
31.188 |
32.945 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
1.809 |
|
Short term borrowings |
0.000 |
80.590 |
83.652 |
|
Total borrowings |
0.000 |
80.590 |
85.461 |
|
Debt/Equity ratio |
0.000 |
2.584 |
2.594 |
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 |
1.401 |
281.541 |
378.413 |
|
|
|
19,995.717 |
34.408 |
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 |
1.401 |
281.541 |
378.413 |
|
Profit |
0.023 |
1.960 |
1.757 |
|
|
1.64% |
0.70% |
0.46% |
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Feltham House 10, J.N Heredia Marg, Ballard Estate, Mumbai-400001, Maharashtra, India to the present address w.e.f. 01.01.2013.
OPERATIONS AND
FUTURE PROSPECTS:
During the year the company net profit after tax was Rs.1.757 million as
compared to net profit after tax of Rs.1.960 million the last year and expects
a reasonable growth in business and Income in the coming years due to Prolonged
Experience and Wide contact of the Directors.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and Advances from Related Parties |
|
|
|
Deepak J. Kandhari (HUF) |
1.640 |
1.640 |
|
Kavita Kandhari |
0.264 |
0.264 |
|
Neha Kandhari |
0.025 |
0.055 |
|
Ritu Kandhari |
0.102 |
0.102 |
|
Chanchal D. Kandhari |
0.000 |
0.186 |
|
Deepak J. Kandhari |
1.618 |
1.682 |
|
Vinay D. Kandhari |
0.379 |
5.130 |
|
|
4.028 |
9.059 |
|
Other Loans and
Advances |
|
|
|
Bajaj Finance Loan |
0.038 |
0.038 |
|
Barclays Finance Loan |
0.000 |
0.729 |
|
HDB Finance Services Limited |
0.000 |
0.037 |
|
HDFC Bank Loan |
0.00 |
0.530 |
|
Kalyan Janta Sahakari Bank Limited – 005 |
51.325 |
51.267 |
|
Kotak Mahindra Bank Loan (A\c 20146080) |
0.000 |
0.990 |
|
Kotak Mahindra Bank Limited (A/c 33459170) |
0.000 |
0.197 |
|
Magma Fincorp Limited |
0.000 |
0.991 |
|
NKGSB Co-operative Bank Limited-68 |
28.261 |
16.752 |
|
Total |
83.652 |
80.590 |
|
Note: Working capital loan
from Kalyan Janta Sahakari Bank Limited of Rs. 51.324 Million and from NKGSB
Co-operative Bank Limited of Rs.28.261 million is secured against immovable
properties of directors, inventories, trade receivables and personal
guarantee of Directors. |
||
INDEX
OF CHARGES
|
S.NO. |
CHARGE
ID |
DATE
OF CHARGE CREATION/MODIFICATION |
CHARGE
AMOUNT SECURED |
CHARGE
HOLDER |
ADDRESS |
SERVICE
REQUEST NUMBER (SRN) |
|
1 |
10539389 |
02/12/2014 |
6,500,000.00 |
THE
KALYAN JANTA SAHAKARI BANK LIMITED |
SHOP
NO.1, MOHAN PALACE CHS, FP NO. 199, 57 ROAD,OPP.VEER
SAWARKARUDYAN,BHATIYAWADI,TPS III,BORIV |
C38503777 |
|
2 |
10480265 |
30/01/2014 |
110,000,000.00 |
THE
KALYAN JANTA SAHAKARI BANK LIMITED |
SHOP
NO.1, MOHAN PALACE CHS,F P NO.199, 57 ROAD, OPP.VEER SAWARKAR
UDYAN,BHATIAWADI,TPSIII,BORIVAL |
B97457550 |
|
3 |
10437704 |
06/02/2014
* |
98,500,000.00 |
THE
KALYAN JANTA SAHAKARI BANK LIMITED |
SHOP
NO.1, MOHAN PALACE CHS,F P NO.199, 57 ROAD,OPP.VEER SAWARKAR
UDYAN,BHATIAWADI,TPSIII,BORIVALI, MUMBAI, MAHARASHTRA - 400092, INDIA |
B97852081 |
* Date of charge modification
FIXED ASSETS
- Land
- Factory
Building
- Computers
- Furniture and
Fixture
- Office Equipment
- Plant and
Machinery
- Air Condition
- Electrical
Installat
- Epbx
- Isher Truck
- Lab
Equipment’s
- Mobile
- Motor car
- Toshiba LCD
- Weight Scale
- Refrigerator
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.80 |
|
UK Pound |
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.