MIRA INFORM REPORT
|
Report No. : |
354619 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
FLASH FORGE
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
11, R.K. Industry House, Walbhot Road, Goregaon (East), Mumbai –
400063, Maharashtra |
|
|
91-22-42769696 |
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.07.1991 |
|
|
|
|
Com. Reg. No.: |
11-187895 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 72.026
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1991PTC187895 |
|
|
|
|
IEC No.: |
2697000178 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF7428E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporting and Importing of
Forgings.(Confirmed by management) |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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 the year 1991, and it engaged into
manufacturing of forging. The company was promoted by Mr. Gautam Makker and Mr.
Sunil Menon in 1991. The company has four manufacturing units, with three
units in Visakhapaatnam and one unit in Mumbai. The ratings assigned to Flash Forge Private Limited derive Strength
from the experience of the promoters in the forging industry, portfolio of
established clientele particularly in the defense segment, healthy
profitability margins, satisfactory financial profile decent capital
structure and established quality standards and certifications. The ratings, however, are constrained by uneven flow of orders
resulting in low revenue visibility, high working capital requirements and
volatility in the raw material prices. Trade relations are reported to be fair. Business is active. Payment
are reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings with 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 |
Moderate degree of safety and moderate credit risk. |
|
Date |
June 2015 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term bank Facilities (A3) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
June 2015 |
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. Kamaraju |
|
Designation : |
Account |
|
Contact No.: |
91-9391885111 |
|
Date : |
11.12.2015 |
LOCATIONS
|
Registered Office : |
11, R.K. Industry House, Walbhot Road, Goregaon (East), Mumbai –
400063, Maharashtra, India |
|
Tel. No.: |
91-22-42769656/ 42769696 |
|
Mobile No.: |
91-9391885111 (Mr. Kamaraju) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
Locality |
Commercial |
|
|
|
|
Head Office / Factory : |
Plot 237, D-Block, Autonagar Industrial Area, Visakhapatnam – 530012,
Andhra Pradesh, India |
|
Tel. No.: |
91-891-3292232/ 2709373/ 3290347 |
|
Fax No.: |
91-891-2768281 |
|
E-Mail : |
|
|
Area : |
50000 Sq. ft |
|
Location : |
Rented |
|
|
|
|
Mumbai Office : |
71/72/73, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai - 400063, Maharashtra, India |
|
Tel. No.: |
91-22-42769696/ 32447119 |
|
Fax No.: |
91-22-26850341 |
|
E-Mail : |
|
|
|
|
|
Overseas Offices : |
Located at: · Mexico · Colombia · Brazil |
DIRECTORS
As on: 31.03.2015
|
Name : |
Mr. Gautam Makkar |
|
Designation : |
Managing director |
|
Address : |
101, Jasti Square Apartments, Beach Road, Vishkhapatnam – 530023,
Andhra Pradesh, India |
|
Date of Birth/Age : |
24.09.1969 |
|
Date of Appointment : |
01.10.1999 |
|
PAN No.: |
AGQPM2281D |
|
DIN No.: |
00354956 |
|
|
|
|
Name : |
Mr. Sunil Menon |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 1702, Odyssey 1, Hiranandani Gardens, Powai, Mumbai –
4000063, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1967 |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AERPM5344Q |
|
DIN No.: |
00409485 |
KEY EXECUTIVES
|
Name : |
Mr. Kamaraju |
|
Designation : |
Account |
|
Contact No.: |
91-9391885111 |
|
Date : |
11.12.2015 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Gautam Makker |
|
1814300 |
|
Shalini Menon |
|
970190 |
|
Sunil Menon |
|
1024110 |
|
Navigating Sales Private Limited, India |
|
750000 |
|
Pushpak Advisory Private Limited, India |
|
1250000 |
|
Diplok Advisory Private Limited, India |
|
180000 |
|
Aay Aar Consultancy Services Private Limited, India |
|
500000 |
|
|
|
|
|
Total |
|
6488600 |
Equity Shareholders with Differential Voting Rights
|
Names of Shareholders |
|
No. of Shares |
|
Aay Aar Consultancy Services Private Limited, India |
|
100000 |
|
Lalima Tie-Up Private Limited, India |
|
100000 |
|
Navigating Sales Private Limited, India |
|
100000 |
|
Pushpak Advisory Private Limited, India |
|
200000 |
|
Pagaria Holding Private Limited, India |
|
214000 |
|
|
|
|
|
Total |
|
714000 |
Equity Share Break up (Percentage of Total Equity)
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
47.12 |
|
Directors
or relatives of directors |
52.88 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporting and Importing of
Forgings.(Confirmed by management) |
|
|
|
|
Products : |
-- |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Heat Exchange |
|
Countries : |
USA |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit (30/60 Days) |
|
|
|
|
Purchasing : |
Cash, L/C and Credit (30/60 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
350 Wholesalers and Retailers
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
350 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra,
India ·
State Bank of India, H. P. V. Branch,
Visakhapatnam 530012, Andhra Pradesh, India
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
V. Jagannadham and
Associates Chartered Accountants |
|
Address : |
52-8-12/2, 1st Floor, Niharika Enclave, Behind Satyam
Computers, Rasapuvanipalem, Vizag, Vishakhapatnam – 530013, Andhra Pradesh,
India |
|
PAN No.: |
AAIPV3081C |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associate : |
Airotech Profiles (India) Private Limited [CIN: U72200AP2007PTC052863] |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,202,600 |
Equity Shares |
Rs. 10/- each |
Rs. 72.026
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 |
72.026 |
72.026 |
72.026 |
|
(b) Reserves & Surplus |
360.752 |
284.433 |
206.115 |
|
(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) |
432.778 |
356.459 |
278.141 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
149.406 |
11.626 |
20.766 |
|
(b) Deferred tax liabilities (Net) |
24.675 |
18.417 |
14.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
174.081 |
30.043 |
34.766 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
196.025 |
199.017 |
141.039 |
|
(b)
Trade payables |
339.485 |
349.582 |
333.378 |
|
(c)
Other current liabilities |
71.125 |
240.778 |
92.173 |
|
(d)
Short-term provisions |
46.834 |
41.762 |
0.000 |
|
Total
Current Liabilities (4) |
653.469 |
831.139 |
566.590 |
|
|
|
|
|
|
TOTAL |
1260.328 |
1217.641 |
879.497 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
303.632 |
268.104 |
203.333 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
8.624 |
0.698 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
63.195 |
19.622 |
3.925 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
375.451 |
288.424 |
207.258 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
280.220 |
219.500 |
152.543 |
|
(c)
Trade receivables |
451.344 |
262.845 |
425.959 |
|
(d)
Cash and cash equivalents |
71.133 |
207.408 |
80.164 |
|
(e)
Short-term loans and advances |
82.180 |
239.464 |
13.573 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
884.877 |
929.217 |
672.239 |
|
|
|
|
|
|
TOTAL |
1260.328 |
1217.641 |
879.497 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
1299.067 |
1476.706 |
813.677 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
1279.127 |
686.308 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including
Financial Expenses) |
197.579 |
127.369 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
62.166 |
50.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
132.544 |
135.413 |
77.060 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
15.440 |
13.316 |
10.717 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
117.104 |
122.097 |
66.343 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
40.784 |
43.779 |
24.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
76.320 |
78.318 |
41.533 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
USD6806291 |
USD11498597 |
USD 2093579 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.60 |
10.87 |
5.77 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
11.151 |
22.622 |
19.575 |
|
Cash generated from operations |
(213.290) |
479.050 |
114.967 |
|
Net Cash flows from operating activities |
(254.448) |
450.774 |
99.365 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.87 |
5.30 |
5.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
13.38 |
15.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.85 |
10.20 |
7.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.34 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.82 |
0.65 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.12 |
1.19 |
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 |
72.026 |
72.026 |
72.026 |
|
Reserves & Surplus |
206.115 |
284.433 |
360.752 |
|
Net worth |
278.141 |
356.459 |
432.778 |
|
|
|
|
|
|
long-term borrowings |
20.766 |
11.626 |
149.406 |
|
Short term borrowings |
141.039 |
199.017 |
196.025 |
|
Current maturities of
long-term debts |
19.575 |
22.622 |
11.151 |
|
Total borrowings |
181.380 |
233.265 |
356.582 |
|
Debt/Equity ratio |
0.652 |
0.654 |
0.824 |
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) |
|
Gross Income |
813.677 |
1476.706 |
1299.067 |
|
|
|
81.486 |
(12.029) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Income |
813.677 |
1476.706 |
1299.067 |
|
Profit |
41.533 |
78.318 |
76.320 |
|
|
5.10% |
5.30% |
5.87% |
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 |
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from “IDA 237, D
Block, Auto Naggar, Visakhapatnam - 530012, Andhra Pradesh, India” to the
present address w.e.f. 09.10.2008.
REVIEW OF OPERATIONS:
During the year under Report, the Company has earned an income of Rs. 1299.067 Million as compared to Rs. 1471.821 million during the previous year and incurred expenditure amounted to Rs 1166.523 million as against Rs.1341.294 million during the previous year. The Depreciation provided and provisions for Tax during the year were Rs. 15.440 million and Rs. 40.784 million as compared to Rs 13.315 million and Rs. 43.779 million during the previous year. As a result, the Company has earned a Net Profit of Rs. 76.320 million as compared to Rs. 78.318 million during the previous year.
During this year, the income as well as profit was declined due to sluggish market conditions in all sectors. Now, in view of recovery of the business in all sectors, the Board has taken the required steps for effective operations for increasing the business of the company. Hence, the company expects more profits in the years to come.
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10515530 |
27/06/2014 |
11,603,845.00 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400018, Maharashtra, INDIA |
C16870123 |
|
2 |
10493545 |
01/03/2014 |
35,000,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai 400710, Maharashtra, INDIA |
C04335907 |
|
3 |
10378794 |
31/08/2012 |
12,700,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai 400710, Maharashtra, INDIA |
B58992553 |
|
4 |
10378809 |
31/08/2012 |
12,300,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai 400710, Maharashtra, INDIA |
B58998436 |
|
5 |
10363566 |
26/05/2012 |
9,423,104.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai 400710, Maharashtra, INDIA |
B42842328 |
|
6 |
10336354 |
31/01/2012 |
1,809,900.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai 400710, Maharashtra, INDIA |
B32465007 |
|
7 |
10333734 |
31/12/2011 |
1,308,332.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai 400710, Maharashtra, INDIA |
B31330046 |
|
8 |
10247758 |
29/09/2010 |
40,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, Maharashtra, INDIA |
A97368385 |
|
9 |
90263068 |
18/12/2014 * |
840,000,000.00 |
IDBI Bank Limited |
Specialized
Corporate Branch, Mid Corporate Group, |
C47626163 |
|
10 |
90134407 |
23/11/2000 |
33,300,000.00 |
STATE BANK OF INDIA |
B. H. P. V. BRANCH, VISAKHAPATNAM 530012, Andhra Pradesh, INDIA |
- |
* Date
of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· 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.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
|
50 |
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.