MIRA INFORM REPORT
|
Report No. : |
355069 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KARAN AUTOMOTIVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-33, Molarband Extension, Badarpur, New Delhi – 110044, |
|
Tel. No.: |
91-129-4066300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
14.02.2003 |
|
|
|
|
Com. Reg. No.: |
55-118971 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.484 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300DL2003PTC118971 |
|
|
|
|
IEC No.: |
0502053658 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK1979P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and supplier of Auto parts-lower cross, upar cross, pipe
connectors, coolent pipes, sheet metal fabricated assemblies, steel tubular.
(Confirmed by management) |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 |
|
|
|
|
Comments : |
Subject was erstwhile established as a partnership concern in 1998 and
later during the year 2000. It got converted into private limited company
with the name of “Karan Automotives Private Limited”. It has satisfactory
track. The rating takes into consideration sound financial risk profile of
the company marked by decent increase in its revenue base along with thin
profit margin in the year 2015. However, the debt level of the company has
reported to be slightly high during the year under consideration. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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.
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 |
CRISIL |
|
Rating |
Long Term Rating (BB-) |
|
Rating Explanation |
Inadequate credit-quality and high credit risk. |
|
Date |
November 21, 2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (A4+) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
November 21, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Deepak Chauhan |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-8860193559 |
|
Date : |
18.12.2015 |
LOCATIONS
|
Registered Office : |
D-33, Molarband Extension, Badarpur, New Delhi – 110044, India |
|
Tel. No.: |
91-129-4066300 |
|
Mobile No.: |
91-8860193559 (Mr. Deepak) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. 17- C, Opposites Whirpool Industrial Area, NIT,
Faridabad-121001, Haryana, India |
DIRECTORS
As on: 31.03.2015
|
Name : |
Mr. Ravinder Singh |
||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
106, Nit 5 E Railway Road, Faridabad, 121001,
Haryana, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.05.1972 |
||||||||||||||||||||||||||||
|
Date of Appointment : |
14.02.2003 |
||||||||||||||||||||||||||||
|
DIN No.: |
01300488 |
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|
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|
||||||||||||||||||||||||||||
|
Name : |
Mr. Ranjit Singh |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
House No 1193-94, Sector-15, Faridabad, 121002,
Haryana, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.02.1975 |
||||||||||||||||||||||||||||
|
Date of Appointment : |
14.02.2003 |
||||||||||||||||||||||||||||
|
DIN No.: |
01945264 |
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|
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|
||||||||||||||||||||||||||||
|
Name : |
Mr. Jagmeet Kaur |
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|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
House No 1193, Sector 15, Faridabad, 121007,
Haryana, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.03.1967 |
||||||||||||||||||||||||||||
|
Date of Appointment : |
20.03.2009 |
||||||||||||||||||||||||||||
|
DIN No.: |
02582907 |
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|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Manpreet Kaur |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
House No 1194, Sector-15, Faridabad, 121007,
Haryana, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.07.1976 |
||||||||||||||||||||||||||||
|
Date of Appointment : |
20.03.2009 |
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|
DIN No.: |
02585527 |
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|
||||||||||||||||||||||||||||
|
Name : |
Mr. Jasbeer Kaur |
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|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
Nh-106,E/5,Railway Road, Nit, Faridabad, 121001,
Haryana, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.04.1978 |
||||||||||||||||||||||||||||
|
Date of Appointment : |
20.03.2009 |
||||||||||||||||||||||||||||
|
DIN No.: |
02587164 |
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KEY EXECUTIVES
|
Name : |
Mr. Deepak Chauhan |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Ranjit Singh |
|
68886 |
|
Ravinder Singh |
|
142872 |
|
Manpreet Kaur |
|
65639 |
|
Jasbeer Kaur |
|
71000 |
|
Total |
|
348397 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
87.26 |
|
Other top fifty shareholders |
12.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and supplier of Auto parts-lower cross, upar cross, pipe connectors,
coolent pipes, sheet metal fabricated assemblies, steel tubular. (Confirmed
by management) |
|
|
|
|
Products : |
Automotive Parts |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
|
|
Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
Advance Payment, Credit and Depend (30/60/90 Days) |
|
|
|
|
Purchasing : |
Advance Payment, Credit and Depend (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
Customers : |
Manufacturer
|
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|
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|
No. of Employees : |
700 (Approximately) |
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Bankers : |
|
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Facilities : |
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|
Financial
Institutions: |
|
|
|
|
|
Auditors : |
|
|
Name : |
Dhawan and Associates Chartered Accountants |
|
Address : |
FF-11, District Shopping Center, SCO-35, Sector-16, Faridabad -
121002, Haryana, India |
|
Tel. No.: |
91-129-4081731 |
|
Mobile No.: |
91-9811061731 |
|
E-Mail : |
|
|
PAN: |
AACFD0741P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
--- |
CAPITAL STRUCTURE
As on: 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
348397 |
Equity Shares |
Rs.10/- each |
Rs. 3.484 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 |
3.484 |
3.454 |
3.454 |
|
(b) Reserves & Surplus |
60.296 |
59.291 |
56.070 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
2.003 |
2.003 |
|
Total
Shareholders’ Funds (1) + (2) |
63.780 |
64.748 |
61.527 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
45.155 |
34.905 |
106.556 |
|
(b) Deferred tax liabilities (Net) |
15.720 |
17.520 |
19.526 |
|
(c) Other long term
liabilities |
14.039 |
13.850 |
12.250 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
74.914 |
66.275 |
138.332 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
137.824 |
118.112 |
17.069 |
|
(b) Trade
payables |
228.302 |
239.497 |
241.286 |
|
(c) Other
current liabilities |
17.308 |
17.505 |
8.573 |
|
(d) Short-term
provisions |
21.149 |
17.820 |
13.426 |
|
Total Current
Liabilities (4) |
404.583 |
392.934 |
280.354 |
|
|
|
|
|
|
TOTAL |
543.277 |
523.957 |
480.213 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
133.692 |
134.358 |
108.865 |
|
(ii) Intangible
Assets |
0.385 |
0.210 |
0.179 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
6.826 |
|
(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 |
0.000 |
0.000 |
0.540 |
|
(e) Other
Non-current assets |
23.231 |
19.772 |
11.502 |
|
Total Non-Current
Assets |
157.308 |
154.340 |
127.912 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
121.498 |
101.662 |
87.170 |
|
(c) Trade
receivables |
228.939 |
242.530 |
214.276 |
|
(d) Cash
and cash equivalents |
4.609 |
4.578 |
27.479 |
|
(e)
Short-term loans and advances |
30.923 |
20.847 |
23.376 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
385.969 |
369.617 |
352.301 |
|
|
|
|
|
|
TOTAL |
543.277 |
523.957 |
480.213 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
978.021 |
953.349 |
860.827 |
|
|
|
Other Income |
1.277 |
2.233 |
0.335 |
|
|
|
TOTAL (A) |
979.298 |
955.582 |
861.162 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing
Expenses |
865.935 |
855.804 |
|
|
|
|
Personal Expenses |
43.034 |
37.457 |
|
|
|
|
sales and Administrative
Expenses |
24.735 |
26.499 |
|
|
|
|
Exceptional Item |
2.293 |
0.896 |
|
|
|
|
TOTAL (B) |
935.997 |
920.656 |
842.838 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
43.301 |
34.926 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.214 |
20.980 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
16.087 |
13.946 |
18.324 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
12.309 |
6.554 |
4.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
3.778 |
7.392 |
13.569 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.529 |
4.171 |
4.527 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1.249 |
3.221 |
9.042 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2.853 |
0.486 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.61 |
9.33 |
25.95 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
10.943 |
13.772 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.13 |
0.34 |
1.05 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.43 |
3.66 |
2.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.70 |
1.41 |
2.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.11 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.04 |
2.58 |
2.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95 |
0.94 |
1.26 |
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 |
3.454 |
3.454 |
3.484 |
|
Reserves & Surplus |
56.070 |
59.291 |
60.296 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
2.003 |
2.003 |
0.000 |
|
Net worth |
61.527 |
64.748 |
63.780 |
|
|
|
|
|
|
long-term borrowings |
106.556 |
34.905 |
45.155 |
|
Short term borrowings |
17.069 |
118.112 |
137.824 |
|
Current Maturities of Long term debt |
0.000 |
13.772 |
10.943 |
|
Total borrowings |
123.625 |
166.789 |
193.922 |
|
Debt/Equity ratio |
2.009 |
2.576 |
3.040 |
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 |
860.827 |
953.349 |
978.021 |
|
|
|
10.748 |
2.588 |
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 |
860.827 |
953.349 |
978.021 |
|
Profit |
9.042 |
3.221 |
1.249 |
|
|
1.05% |
0.34% |
0.13% |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Company Overview:
The company achieved 2.6% growth in gross revenue which increased from Rs. 953.349 million in FY 2013-14 to Rs. 978.021 million in FY 2015-15 and profit after tax decreased by 61% from Rs. 3.221 million to Rs. 1.256 million and reason for decline in profit is due to change in depreciation method as per companies Act 2013.
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long Term
Borrowing |
|
|
|
Term Loan from Working capital |
0.000 |
0.170 |
|
Total |
0.000 |
0.170 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2015 |
|
Surety Bond Executed in favor of sales tax Authorities |
0.200 |
|
Total |
0.200 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10605257 |
27/11/2015 |
918,000.00 |
ELECTRONICA
FINANCE LIMITED |
128/A, Plot
No.3, Kailash Chandra Apartments, Paud Road, Kothrud, Pune - 411038,
Maharashtra, INDIA |
C71695399 |
|
2 |
10586473 |
30/07/2015 |
918,000.00 |
ELECTRONICA
FINANCE LIMITED |
128/A, Plot
No.3, Kailash Chandra Apartments, Paud Road, Kothrud, Pune - 411038,
Maharashtra, INDIA |
C61850202 |
|
3 |
10560721 |
28/03/2015 |
892,500.00 |
ELECTRONICA FINANCE
LIMITED |
128/A, Plot
No.3, Kailash Chandra Apartments, Paud Road, Kothrud, Pune - 411038,
Maharashtra, INDIA |
C49726094 |
|
4 |
10458935 |
19/03/2015 * |
38,500,000.00 |
AXIS BANK
LIMITED |
PLOT NO. 40, SCO,
SECTOR 7, HUDA MAIN MARKET, BALLABHGARH - 121006, FARIDABAD, Haryana, INDIA |
C49903719 |
|
5 |
10447104 |
13/08/2013 |
5,784,000.00 |
MAHINDRA AND
MAHINDRA FINANCIAL SERVICES LIMITED |
GATEWAY BUILDING,
APOLLO BUNDER, MUMBAI - 400001, Maharashtra, INDIA |
B84053800 |
|
6 |
10341282 |
29/02/2012 |
10,000,000.00 |
Small Industries
Development Bank of India |
Ground Floor
Videocon Tower, E-1, Rani Jhansi Road, Jhandewalan Extension, New Delhi - 110055,
INDIA |
B34600874 |
|
7 |
10308389 |
22/09/2011 |
9,000,000.00 |
Small Industries
Development Bank of India |
Ground Floor
Videocon Tower, E-1, Rani Jhansi Road, Jhandewalan Extension, Delhi - 110055,
INDIA |
B21618178 |
|
8 |
10281293 |
17/03/2011 |
1,980,000.00 |
Canara Bank |
8A, Nehru
Ground, NIT, Faridabad, Haryana - 121001, INDIA |
B10900835 |
|
9 |
10228014 |
17/09/2014 * |
122,280,000.00 |
Canara Bank |
8A, Nehru
Ground, NIT, Faridabad, Haryana - 121001, INDIA |
C24784233 |
|
10 |
10156193 |
27/03/2009 |
3,000,000.00 |
RELIANCE CAPITAL
limited |
"H"
BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai -
400710, Maharashtra, INDIA |
A61689618 |
* Date
of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Dies Tools and Gauges
- Generator
- Weighing Tower
- Air Condition
- Office Equipment
- Furniture and Fixture
- Electrical Fans
- Telephone
- Motor Cycle
- Car
- Vehicle
- Computer
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 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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
42 |
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.