MIRA INFORM REPORT
|
Report No. : |
353893 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAJDEEP CANS PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
202 Prashanti, Devidas Lane, Borivali (West), Mumbai – 400103, Maharashtra |
|
Tel. No.: |
91-9920990482 (Mr. Mehul Shah) |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2015 |
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|
|
|
Date of
Incorporation : |
18.06.1984 |
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|
|
|
Com. Reg. No.: |
11-033183 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1984PTC033183 |
|
|
|
|
IEC No.: |
0388190558 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14296C |
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|
|
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PAN No.: [Permanent Account No.] |
AAACR5625F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of Tinplate Cans, AEROSOL Cans, Lug Caps, Douber
Plastics. (Registered
Activity) |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 37000 |
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|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject was established in the year 1984 and it is engaged in the
manufacturing of printed tin can. For the financial year ended 2015 company has achieved 60% growth in
its revenue profile but failed to maintained profit margins and reported low
margins at 0.80% during the year under review. Rating remain constrained on account of company’s moderate financial
profile marked by modest networth base along with huge borrowings and weak
debt coverage indictors. Trade relations are reported as fair. Payments are reported to be slow
but correct. In view of aforesaid, the company can be considered for business
dealing with some caution. |
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
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. Mehul Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9920990482 |
|
Date : |
09.12.2015 |
LOCATIONS
|
Registered Office : |
202 Prashanti, Devidas Lane, Borivali (West), Mumbai – 400103, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9920990482 (Mr. Mehul Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Residential |
|
|
|
|
Factory and Head
Office : |
8, Dewan and Shah Udyog Nagar, Chintupada Road, Palghar – 401404, Maharashtra, India |
|
Tel. No.: |
91-2525-255111, 255112, 256959 |
|
|
|
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Mumbai Office : |
4A, New Tejpal Industrial Estate, Andheri Kurla Road, Sakinaka, Mumbai - 400072, Maharashtra, India |
|
Tel. No.: |
91-22-28595248 |
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|
|
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Factory (Silvassa)
: |
4, Nandini Industrial Estate, 66 Kva Road, Village Amli,
Silvassa – 396230, |
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|
|
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Factory
(Ankleshwar) : |
7901/1-2 B, GIDC Industrial Area, Karmatur Chokdi, Ankleshwar – 393002, Gujarat, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Atul Devchand Shah |
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Designation : |
Director |
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|
Address : |
201, Prashanti, 2nd Floor, Devidas Lane, Borivali (West), Mumbai - 400103, Maharashtra, India |
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Date of Birth/Age : |
27.11.1963 |
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Qualification : |
B.Com |
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Date of Appointment : |
11.11.2011 |
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DIN No.: |
01527148 |
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Other Directorship :
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|
Name : |
Mr. Mehul Atul Shah |
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|
Designation : |
Director |
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|
Address : |
201 - Prashanti, Devidas Lane, Borivali (West), Mumbai - 400103, Maharashtra, India |
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Date of Birth/Age : |
18.06.1991 |
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Date of Appointment : |
11.11.2011 |
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DIN No.: |
03622107 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS
As on 31.03.2015
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Darshana Atul Shah |
40000 |
40.00 |
|
Muktaben Devchand Shah |
5000 |
5.00 |
|
Atul Devchand Shah HUF |
22500 |
22.50 |
|
Dina Deepak Shah |
6500 |
6.50 |
|
Deepak Devchand Shah HUF |
8000 |
8.00 |
|
Atul Devchand Shah |
12500 |
12.50 |
|
Devchand Shamji Shah |
2500 |
2.50 |
|
Deepak Devchand Shah |
2900 |
2.90 |
|
Megha Atul Shah |
100 |
0.10 |
|
Total |
100000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tinplate Cans, AEROSOL Cans, Lug Caps, Douber
Plastics. (Registered
Activity) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Hong Kong |
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Terms : |
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Selling : |
Cash and Credit (30/ 60/ 90 Days) |
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Purchasing : |
Cash and Credit (30/ 60/ 90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Sachin Dani and Associates Chartered Accountants |
|
Address : |
Office No 230/231,Topaz Building, Seven Jewels, Station Road, Vapi
(East), Vapi – 396191, Gujarat, India |
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E-Mail : |
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|
Membership No.: |
131116W |
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PAN No.: |
AHCPD2277P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
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 |
|
1.000 |
1.000 |
|
(b) Reserves &
Surplus |
11.950 |
10.578 |
9.491 |
|
(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) |
12.950 |
11.578 |
10.491 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
6.788 |
9.199 |
5.021 |
|
(b) Deferred tax
liabilities (Net) |
0.908 |
0.197 |
0.124 |
|
(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) |
7.696 |
9.396 |
5.145 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
87.297 |
90.169 |
43.574 |
|
(b) Trade payables |
38.346 |
26.520 |
19.400 |
|
(c) Other current
liabilities |
14.538 |
7.006 |
3.432 |
|
(d) Short-term provisions |
1.263 |
2.232 |
1.549 |
|
Total Current Liabilities
(4) |
141.444 |
125.927 |
67.955 |
|
|
|
|
|
|
TOTAL |
162.090 |
146.901 |
83.591 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
32.568 |
34.321 |
16.296 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.353 |
0.443 |
0.290 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
32.921 |
34.764 |
16.586 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
40.001 |
61.406 |
23.558 |
|
(c) Trade receivables |
72.646 |
30.514 |
39.945 |
|
(d) Cash and cash
equivalents |
1.505 |
1.297 |
0.167 |
|
(e) Short-term loans and
advances |
7.382 |
11.007 |
3.335 |
|
(f) Other current assets |
7.635 |
7.913 |
0.000 |
|
Total Current Assets |
129.169 |
112.137 |
67.005 |
|
|
|
|
|
|
TOTAL |
162.090 |
146.901 |
83.591 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
252.049 |
157.262 |
124.751 |
|
|
Other Income |
6.423 |
3.208 |
1.362 |
|
|
TOTAL (A) |
258.472 |
160.470 |
126.113 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Raw Materials Consumed |
|
|
89.473 |
|
|
Manufacturing Expenses |
|
|
12.287 |
|
|
Administration Expenses |
|
|
5.259 |
|
|
Employee Benefits Expense |
|
|
10.901 |
|
|
TOTAL |
254.950 |
159.028 |
117.920 |
|
|
|
(Including
Depreciation and Financial Expenses) |
(Including
Depreciation and Financial Expenses) |
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
8.193 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
6.372 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
1.821 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.797 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
3.522 |
1.442 |
1.024 |
|
|
|
|
|
|
|
Less |
TAX |
1.491 |
0.355 |
0.360 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
2.031 |
1.087 |
0.664 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
7.444 |
5.760 |
3.006 |
|
|
Capital Goods |
0.000 |
1.841 |
0.000 |
|
|
TOTAL IMPORTS |
7.444 |
7.601 |
3.006 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
20.31 |
10.87 |
6.64 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.81 |
0.69 |
0.53 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
NA |
6.57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.17 |
0.98 |
1.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.12 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.27 |
8.58 |
4.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.89 |
0.99 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
9.491 |
10.578 |
11.950 |
|
Net worth |
10.491 |
11.578 |
12.950 |
|
|
|
|
|
|
long-term borrowings |
5.021 |
9.199 |
6.788 |
|
Short term borrowings |
43.574 |
90.169 |
87.297 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
48.595 |
99.368 |
94.085 |
|
Debt/Equity ratio |
4.632 |
8.582 |
7.265 |
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 |
124.751 |
157.262 |
252.049 |
|
|
|
26.061 |
60.273 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
124.751 |
157.262 |
252.049 |
|
Profit |
0.664 |
1.087 |
2.031 |
|
|
0.53% |
0.69% |
0.81% |
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 |
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 |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
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 |
PERFORMANCE
During the year company’s revenue from other income was Rs.258.472
Million as compared to the previous year Rs.160.470 Million and had a net profit
of Rs.3.522 Million as compared to the net profit of Rs.1.442 Million in the
previous year. There has been no change in the nature of business of the
company during the financial year 2014-2015.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Barclays Bank Loan A/c |
0.000 |
0.404 |
|
HDB Financial Service loan - 366409 |
0.555 |
1.063 |
|
ICICI Bank Loan – 1130 |
0.532 |
0.788 |
|
ICICI Bank Loan – 1131 |
0.532 |
0.788 |
|
SHORT TERM
BORROWING |
|
|
|
Atul Devchand Shah |
6.178 |
7.590 |
|
Atul D Shah H.U.F. |
2.575 |
0.260 |
|
Deepak Devchand Shah |
8.329 |
14.030 |
|
Deepak D. Shah H.U.F. |
0.000 |
0.880 |
|
Devchand Samji Shah |
1.378 |
1.242 |
|
Devchand S. Shah H.U.F. |
0.266 |
0.266 |
|
Megha A. Shah |
0.225 |
0.000 |
|
Dina Deepak Shah |
0.000 |
0.701 |
|
Mehul A. Shah |
0.246 |
0.067 |
|
Muktaben Devchand Shah |
2.340 |
1.500 |
|
Mukta Trusteeship Co. Private Limited |
8.728 |
12.208 |
|
Sales Tax Deferment |
1.495 |
3.188 |
|
Total |
33.379 |
44.975 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10446401 |
14/10/2015 * |
39,050,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
C68031285 |
|
2 |
10264387 |
07/01/2011 |
1,400,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI (WEST), MUMBAI - 400079, MAHARASHTRA, INDIA |
B04415071 |
|
3 |
10211010 |
19/03/2010 |
7,636,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI (WEST), MUMBAI - 400079, MAHARASHTRA, INDIA |
A82540006 |
|
4 |
10163359 |
05/06/2009 |
1,000,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
MAROL BRANCH,MAROL MAROSHI ROAD, MAROL VILLAGE, ANDHERI (EAST), MUMBAI - 400059, MAHARASHTRA, INDIA |
A64224397 |
|
5 |
10142010 |
30/03/2013 * |
15,250,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI (WEST), MUMBAI - 400079, MAHARASHTRA, INDIA |
B73969529 |
|
6 |
90242710 |
20/05/2005 |
600,000.00 |
THE SARASWAT BANK |
MORAL BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
7 |
90242359 |
07/01/2014 * |
29,000,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI (WEST), MUMBAI - 400079, MAHARASHTRA, INDIA |
B93990323 |
|
8 |
90233563 |
28/03/1989 |
800,000.00 |
UNION BANK OF INDIA |
SION (EAST) BRANCH, SION, BIHAR, INDIA |
- |
|
9 |
90233312 |
11/07/1985 |
720,000.00 |
UNION BANK OF INDIA |
SION BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
10 |
90233269 |
05/10/1984 |
907,500.00 |
UNION BANK OF INDIA |
66/80, B.S. MARG, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Air Conditioner
- Computer
- Dies and Tools
- Electric Fixtures and Fitting
- Factory Equipment
- Factory Shed
- Furniture, Fixtures and Fitting
- Machineries
- Mobile
- Motor Car
- Office Equipment
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.66.78 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.