MIRA INFORM REPORT

 

 

Report No. :

352692

Report Date :

18.12.2015

 

IDENTIFICATION DETAILS

 

Name :

DEE TEE INDUSTRIES LIMITED

 

 

Registered Office :

Unit No.1, 28/33, Pologround Industrial Estate, Indore- 452015, Madhya Pradesh.

Tel. No.:

Not Available

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

18.05.1974

 

 

Com. Reg. No.:

10-001274

 

 

Capital Investment / Paid-up Capital :

Rs.29.000 Million

 

 

CIN No.:

[Company Identification No.]

U34300MP1974PLC001274

 

 

IEC No.:

1188000489

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACD6052G

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The Company Has Engaged Manufacturing Slitting Line Tooling, Tube/ Section Mill Rolls, Shear Blades. Paper Chipper Knives, Cold Rolling Mill Rolls, Etc. (Registered Activity)

 

 

No. of Employees :

Not Divulged  

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 480000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1974 having satisfactory track record.

 

Turnover and profit of the company has slightly declined during FY- 2015 however, the company has able to maintain a fair profit margin at 2% approx.

 

Further, the rating takes into consideration healthy net worth base and favorable gap between trade payables and trade receivables.

 

Trade relation are reported as fair. Business active. Payments terms are reported as usually correct and as per commitments.

 

In view of long track record and sound financial base, the company can be considered normal for business dealings at usual trade terms and condition   

 

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

ICRA

Rating

Fund Based Faculty (BBB-)

Rating Explanation

Moderate Degree of Safety Carry Moderate Risk 

Date

August 2015

 

 

Rating Agency Name

ICRA

Rating

Non Fund Based Faculty (A3)

Rating Explanation

Moderate Degree of Safety Carry Higher  Risk 

Date

August 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 DENIED

 

Management non co-operative

 

 

LOCATIONS

 

Registered Office :

Unit No.1, 28/33, Pologround Industrial Estate, Indore- 452015, Madhya Pradesh, India

Tel. No.:

91-731-4269777

Mobile No.:

Not Available

Fax No.:

91-731-4296766/ 242210

E-Mail :

sureshrai@deeteegroup.com

Website :

http://www.deeteegroup.com

account@deeteegroup.com

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mrs. Pushpa Bhagwan Goyal

Designation :

Director

Address :

149, Shri Nagar Main, Indore- 452018, Madhya Pradesh, India

Date of Birth/Age :

28.09.1950

Date of Appointment :

29.10.2009

DIN No.:

01331742

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

Top of Form

1

U34300MP1974PLC001274

DEE TEE INDUSTRIES LIMITED

Director

29/10/2002

29/10/2002

-

Active

NO

2

U72200MP2009PTC022118

AVINA SOFTWARES PRIVATE LIMITED

Director

8/7/2009

8/7/2009

-

Strike off

NO

Bottom of Form

 

 

Name :

Mr. Suresh B. Baheti

Designation :

Director

Address :

10.10.1947

Date of Birth/Age :

78, Narsingh Bazar, Indore- 452002, Madhya Pradesh, India

Date of Appointment :

11.06.2007

DIN No.:

00007816

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U17124MP1982PTC002037

SHREENATH TEXTILES PVT LTD

Director

27/08/1982

27/08/1982

-

Active

NO

Bottom of Form

2

U51491MP1993PTC007670

PIOUS OVERSEAS PRIVATE LIMITED

Director

1/3/2006

1/3/2006

-

Strike off

NO

3

U34300MP1974PLC001274

DEE TEE INDUSTRIES LIMITED

Director

11/6/2007

11/6/2007

-

Active

NO

 

 

Name :

Mr. Purshottam Purohit

Designation :

Whole-Time Director

Address :

198, Clerk Colony, Indore- 452011, Madhya Pradesh, India

Date of Birth/Age :

01.06.1952

Date of Appointment :

21.05.2014

DIN No.:

00570032

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U15200MP1995PTC009427

ANURAG PROSEHAT HEALTH INDUSTRIES PRIVATE LIMITED

Director

1/9/2000

1/9/2000

-

Active

NO

2

U34300MP1983PTC002181

S.P. TOOLS & PROCESSORS PVT LIMITED

Director

15/12/2000

15/12/2000

-

Active

NO

3

U34300MP1974PLC001274

DEE TEE INDUSTRIES LIMITED

Whole-time director

1/4/2015

21/05/2014

-

Active

NO

 

 

Name :

Mrs. Aradhya Baheti

Designation :

Whole-Time Director

Address :

22, Old Palasia, Bombay Agra Road, Indore- 452001, Madhya Pradesh, India

Date of Birth/Age :

22.05.1980

Date of Appointment :

11.06.2007

DIN No.:

00660745

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U02710MP1979PLC001501

DEWAS METAL SECTIONS LIMITED

Director

30/10/2001

30/10/2001

-

Active

NO

2

U34300MP1974PLC001274

DEE TEE INDUSTRIES LIMITED

Whole-time director

1/4/2015

28/12/2001

-

Active

NO

3

U36102MP1987PTC004093

DECOSTYLE TECHNICS PRIVATE LIMITED

Director

16/02/2004

16/02/2004

-

Active

NO

4

U67120MP1992PTC006881

ARADHYA INVESTMENT AND FINANCE PRIVATE LIMITED.

Director

30/09/2015

30/09/2015

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2015

 

Names of Shareholders

 

No. of Shares

Mr. Manoharlal Baheti

 

120550

Mrs. Sitadevi Baheti

 

187200

Mr. Ghanshyam Baheti

 

40000

Mr. Aradhya Baheti

 

786000

Miss Deepali Goyal

 

12000

Mr. Vishnu Bhagwan Goyal

 

150

M/S S.P. Tools And Prosessors Limited, India

 

866000

Miss Shivali Goyal

 

50

Miss Divya Goyal

 

50

Mrs. Pushpa Bhagwan Goyal

 

30000

Mr. p.g. purohit

 

80000

Mr. Shiv Priya Purohit

 

150000

Mr. Suresh Baheti

 

128000

M/S Happy Collection Suiting Private Limited, India

 

150000

M/S Shri May Fare Housing Finance Limited, India 

 

150000

M/S Mkj Securities Private Limited, India 

 

100000

M/S Macro Holding Private Limited, India 

 

100000

Total

 

2900000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

52.90

Bodies corporate

47.10

Total

100.00

 

Equity Share Break up (Percentage of Total Equity)

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company Has Engaged Manufacturing Slitting Line Tooling, Tube/ Section Mill Rolls, Shear Blades. Paper Chipper Knives, Cold Rolling Mill Rolls, Etc. (Registered Activity)

 

 

Products :

 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Not Divulged 

 

 

Bankers :

Banker Name

Axis Bank Limited

Branch Address

Branch MCMC At 01, Kamal Palace, Y.N. Road, Indore, Madhya Pradesh - 452001, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Term loan from bank

 

 

Term loan I (Rs.31.500 million)

0.000

4.865

Term loan II  (Rs.16.500 million)

13.163

0.000

Term loan III (Rs.47.335 million)

17.792

27.762

Term loan from reliance capital limited

0

0

Term loan I (Rs.14.000 million)

7.861

0.000

Term loan II (Rs.6.200 Million)

3.589

0.000

SHORT TERM BORROWING

0

0

Working Capital Loan From State Bank of India

0

0

Cash credit loan

76.706

60.361

Export packing loan

22.718

22.644

Total

141.829

115.632

 

Auditors :

 

Name :

M. Mehta and Company

Chartered Accountant

Address :

11/5, South Tukoganj, Nath Mandir Road, Indrore- 452001, Madhya Pradesh, India 

Tel. No.:

91-4065948/ 2511022/ 24631713

Mobile No.:

91-9826294918

Fax No.:

91-2523117

E-Mail :

mail@mmehataco.com

audit@mmehataco.com

Website:

http://www.mmehataco.com

PAN N Income-tax PAN of auditor or auditor's firm :

AAGFM2176A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :
  • S.P. Tools and Processors Private Limited
  • Decostyle Technique Private Limited
  • Aradhya Investment And Finance Private Limited
  • Dewas Metal Section Limited
  • Shreenath Textiles Private Limited
  • Dewas Techno Product Private Limited
  • Anurag Prosehat Health Industries Private Limited (Formerly Anurag Metal Forms Private Limited)

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs.50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2900000

Equity Shares

Rs.10/- each

Rs.29.000 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

29.000

29.000

29.000

(b) Reserves & Surplus

139.460

127.217

110.728

(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)

168.460

156.217

139.728

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

44.382

48.766

59.356

(b) Deferred tax liabilities (Net)

18.039

14.521

11.333

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

3.014

2.347

1.944

Total Non-current Liabilities (3)

65.435

65.634

72.633

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

154.614

125.336

120.252

(b) Trade payables

84.339

73.269

57.456

(c) Other current liabilities

86.261

54.698

64.401

(d) Short-term provisions

0.535

1.426

0.044

Total Current Liabilities (4)

325.749

254.729

242.153

 

 

 

 

TOTAL

559.644

476.580

454.514

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

211.877

175.305

170.014

(ii) Intangible Assets

0.276

0.190

0.488

(iii) Capital work-in-progress

8.200

19.381

5.013

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.029

0.029

0.029

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

7.263

5.393

2.204

(e) Other Non-current assets

2.545

4.520

4.535

Total Non-Current Assets

230.190

204.818

182.283

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

151.118

112.534

123.167

(c) Trade receivables

125.522

125.829

109.984

(d) Cash and cash equivalents

12.780

0.639

3.909

(e) Short-term loans and advances

35.612

29.263

34.362

(f) Other current assets

4.422

3.497

0.809

Total Current Assets

329.454

271.762

272.231

 

 

 

 

TOTAL

559.644

476.580

454.514

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

564.321

626.189

512.817

 

Other Income

5.561

1.634

0.867

 

TOTAL

569.882

627.823

513.684

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

329.130

349.447

314.029

 

Purchases of Stock-in-Trade

2.889

1.431

0.969

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(32.307)

6.143

(22.521)

 

Employees benefits expense

65.278

56.931

44.527

 

Other expenses

136.934

150.160

132.032

 

exception item

2.459

0.031

0.192

 

TOTAL

504.383

564.143

469.228

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

65.499

63.680

44.456

 

 

 

 

 

Less

FINANCIAL EXPENSES

29.492

26.377

22.727

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

36.007

37.303

21.729

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

16.377

14.312

12.633

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

19.630

22.991

9.096

 

 

 

 

 

Less

TAX

7.388

7.002

2.006

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

12.242

15.989

7.090

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

208.831

134.537

117.921

 

TOTAL EARNINGS

208.831

134.537

117.921

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

62.315

75.995

68.098

 

Components and Stores parts

3.868

0.000

0.440

 

Capital Goods

15.163

17.605

11.974

 

TOTAL IMPORTS

81.346

93.600

80.512

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 

 

Basic

 4.22

5.51

2.44

 

Diluted

 4.22

5.51

2.44

 

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

26.638

17.357

19.363

Cash generated from operations

54.783

64.228

0.554

Net cash flows from (used in) operations

48.988

61.441

(1.437)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

2.17

2.55

1.38

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

11.61

10.17

8.67

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.50

4.82

2.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.15

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.34

1.23

1.42

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.01

1.07

1.12

 

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

29.000

29.000

29.000

Reserves & Surplus

110.728

127.217

139.460

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

139.728

156.217

168.460

 

 

 

 

long-term borrowings

59.356

48.766

44.382

Short term borrowings

120.252

125.336

154.614

CURRENT MATURITIES OF LONG-TERM DEBTS

19.363

17.357

26.638

Total borrowings

198.971

191.459

225.634

Debt/Equity ratio

1.424

1.226

1.339

 

 

 

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

512.817

626.189

564.321

 

 

22.108

(9.880)

 

 

 

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

512.817

626.189

564.321

Profit

7.090

15.989

12.242

 

1.38%

2.55%

2.17%

 

 

 

 

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

No

8

Designation of contact person

No

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)

No

16

No. of employees

No

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

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Car Loan From Bank

1.977

0.659

From Body Corporate

0.000

15.479

SHORT TERM BORROWING

 

 

From Director

55.190

42.331

Total

57.167

58.469

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10592800

17/11/2015 *

227,100,000.00

Axis Bank Limited

BRANCH/MCMC AT, 01, KAMAL PALACE,, Y.N. ROAD, INDORE, MADHYA PRADESH- 452001, INDIA

C71610687

2

10515230

31/07/2014

6,200,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA

C16608309

3

10515228

31/07/2014

14,000,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA

C16612764

4

90206534

19/12/1981

500,000.00

M.P. FINANCIAL CORPORATION

AGRA BOMBAY ROAD, INDORE, MADHYA PRADESH, INDIA

-

5

90204439

31/03/1975

55,100.00

THE GOVERNOR OF MADHYA PRADESH

DEWAS, DEWAS, MADHYA PRADESH, INDIA

-

 

 

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, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.66.64

UK Pound

1

Rs.99.61

Euro

1

Rs.72.32

 

 

INFORMATION DETAILS

 

Information Gathered by :

 

 

 

Analysis Done by :

PPT

 

 

Report Prepared by :

PRV

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.