MIRA INFORM REPORT

 

 

Report No. :

354592

Report Date :

19.12.2015

 

IDENTIFICATION DETAILS

 

Name :

RADHEYA MACHINING LIMITED

 

 

Registered Office :

Amaya 5, Sajeevan Colony, Samarth Nagar, Aurangabad – 431001, Maharashtra

Tel. No.:

91-240-2333737

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

20.12.1999

 

 

Com. Reg. No.:

11-123186

 

 

Capital Investment / Paid-up Capital :

Rs.94.673 Million

 

 

CIN No.:

[Company Identification No.]

U74999MH1999PLC123186

 

 

IEC No.:

0303033941

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCR7133F

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of automobile components. (Confirmed by management)

 

 

No. of Employees :

550  (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (35)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1999 having moderate track.

 

Management has failed to file its financials for FY 15 with registrar of companies.

 

The company has achieved decent sales turnover marked by satisfactory profitability margin.

 

However, subjects liquidity is expected to remain stretched on account of tightly matched net cash accruals against its debt obligations and on accounts of its working-capital-intensive operations.

 

However, trade relations are fair. Business is active. Payments are slow but correct.

 

The company can be considered for business dealings 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

 

Rating Agency Name

CRISIL

Rating

Long term rating: B

Rating Explanation

Risk prone credit quality and carries very high credit risk.

Date

31.03.2015

 

 

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. Bapu More

Designation :

Accountant

Contact No.:

91-2137-679245

Date :

12.12.2015

 

 

 

LOCATIONS

 

Registered Office :

Amaya 5, Sajeevan Colony, Samarth Nagar, Aurangabad – 431001, Maharashtra, India

Tel. No.:

91-240-2337727/7727

Fax No.:

91-240-2333737

E-Mail :

kadampramod702@gmail.com

info@rmlindia.com  

Website:

www.rmlindia.com

Location :

Owned

Locality:

Residential

 

 

Branch Office / Factory 1 :

1260/2, Nagar Road, Pune – 412208, Maharashtra, India

Tel. No.:

91-2137-679232/45/49

Fax No.:

91-2137-679231

 

 

Factory 2 :

Plot No. 23, B. U. Bhandari Industrial Estate, Pune Nagar Road, Sanaswadi, Pune - 412 208, Maharashtra, India

 

 

Factory 3 :

Plot No.24, B U Bhandari Industrial Estate, Pune Nagar Road, Sanaswadi,  Pune – 412208, Maharashtra, India

 

 

Factory 4 :

29th Stone, Nagar Beed Raod, Ambhora, Taluka Ashati, District Beed – 414202, Maharashtra, India

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Dhananjay Ambadasrao Bhargav

Designation :

Whole – time Director

Address :

F-11, Mahalaxmi Coplex, Shitole Nagar, Sangviold, Pune – 411027, Maharashtra, India

Date of Birth/Age :

09.07.1960

Date of Appointment :

20.12.1999

PAN No.:

ABJPB7223N

DIN No.:

00887332

 

 

Name :

Mr. Sanjay Ambadas Joshi

Designation :

Managing Director

Address :

Amaya 5, Sajeevan Colony, Samarth Nagar, Aurangabad – 431001, Maharashtra, India

Date of Birth/Age :

21.05.1958

Date of Appointment :

20.12.1999

PAN No.:

ABGPJ9472Q

DIN No.:

01099324

 

 

Name :

Mr. Santosh Ambadas Joshi

Designation :

Drector

Address :

Flat No. 8, Plot No. 5, Final Plot No. 15-A, Laxmi Bag Colony, Erandwana, Pune – 411004, Maharashtra, India

Date of Birth/Age :

19.09.1966

Date of Appointment :

20.12.1999

PAN No.:

ABGPJ9463K

DIN No.:

01319854

 

 

KEY EXECUTIVES

 

Name :

Mr. Bapu More

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

Bhargav Ambadasrao Dhananjay

 

903012

Bhargav Ambadasrao Dhananjay

 

3134639

Joshi Ambadas Santosh

 

216163

Joshi Sanjay Vinita

 

2173062

Bhargav Dhananjay Shubhangi

 

159594

Joshi Santosh Kalpana

 

111851

Joshi Ambadasrao Mayabai

 

10000

Ghorpade Ramrao Kisanrao

 

2500

Chinchawadkar Chandrakant Vijaya

 

3750

Joshi Sanjay Ketki

 

51840

Afzulpurkar Venkatesh Vishwanath

 

5000

Joshi Vinay Yashodhan

 

1250

Yashawant Forgings Private Limited, India

 

100

Prachay Auto Parts Private Limited, India

 

100

Aagneya Heat Technologies Private Limited, India

 

100

Bhargav Dhananjay Suchit

 

233840

Limbolkar C. Vaishali

 

51250

Joshi Sanjay Kasturi

 

170254

Bhargav D. Neeraj

 

185574

Joshi Santosh Rohan

 

107874

Netra Engineering Private Limited

 

340

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

Category

Percentage

Directors or relatives of Directors

99.34

Other top fifty shareholders

0.66

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of automobile components. (Confirmed by management)

 

 

Products :

Item Code No.

Product Description

73261100

Automobile Components

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

USA

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Credit (90 Days)

 

 

Purchasing :

Cash and Credit (90 Days)

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Kalyani Forge Limited

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 :

End Users

 

Reference :

Mahindra and Mahindra Limited

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 :

550 (Approximately)

 

 

Bankers :

Banker Name

The Bharat Co-operative Bank(Mumbai) Limited

Branch Address

Dhankawadi Pune Branch, Pancharatna Heights, Chaitanya Nagar, Pune - Satara Road, Dhanakwadi, Pune – 411043, Maharashtra, 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)

Cash Credit : Rs. 350.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loans

191.125

121.958

Loans taken for fixed assets

5.963

2.848

Other loans and advances, others

2.285

107.442

SHORT TERM BORROWING

 

 

Other loans and Advances

336.236

0.000

Loans repayable on demand

0.000

188.477

Total

535.609

420.725

 

Auditors :

 

Name :

Ashok Patil and Associates

Chartered Accountant

Address :

A.P.Heights,Behind Gopal Cultural Hall Osmanpura, Aurangabad, Maharashtra, India

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

ABFPP1555R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are

owned, or have significant

influence of or are partners

with Key management

personnel and their relatives:
  • Yashawant Forgings Private Limited, India

 [U27100MH2002PTC136956]

  • Prachay Auto Parts Private Limited, India [U34300PN2002PTC018100]

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20000000

Equity Shares

Rs.10/- each

Rs. 200.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9467254

Equity Shares

Rs.10/- each

Rs. 94.673 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

94.673

89.638

84.685

(b) Reserves & Surplus

225.302

188.328

150.941

(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)

319.975

277.966

235.626

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

203.213

242.302

213.479

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

132.464

95.358

81.794

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

335.677

337.660

295.273

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

336.236

188.477

156.421

(b) Trade payables

148.210

128.185

131.736

(c) Other current liabilities

0.000

0.000

0.000

(d) Short-term provisions

37.896

36.299

35.445

Total Current Liabilities (4)

522.342

352.961

323.602

 

 

 

 

TOTAL

1177.994

968.587

854.501

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

443.635

436.379

377.413

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

40.024

16.630

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.862

0.862

0.862

(c) Deferred tax assets (net)

5.665

4.555

14.698

(d)  Long-term Loan and Advances

5.151

16.834

27.566

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

455.313

498.654

437.169

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

263.618

183.971

153.129

(c) Trade receivables

312.241

173.955

198.714

(d) Cash and cash equivalents

18.426

6.231

14.675

(e) Short-term loans and advances

114.509

88.234

33.056

(f) Other current assets

13.887

17.542

17.758

Total Current Assets

722.681

469.933

417.332

 

 

 

 

TOTAL

1177.994

968.587

854.501

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

1038.634

1039.136

1030.915

 

Other Income

42.329

2.466

2.460

 

TOTAL (A)

1080.963

1041.602

1033.375

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

584.046

604.810

633.314

 

Employees benefits expense

95.333

72.106

49.524

 

Other expenses

222.114

208.245

190.890

 

TOTAL (B)

901.493

885.161

873.728

 

 

 

 

 

Less

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

179.470

156.441

159.647

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

77.928

55.704

62.155

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

101.542

100.737

97.492

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

63.145

56.707

41.324

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

38.397

44.030

56.168

 

 

 

 

 

Less

TAX (H)

13.504

14.988

5.503

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

24.893

29.042

50.665

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 

Basic

2.63

3.24

6.40

Diluted

2.63

3.43

6.40

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1200.000

 

Expected Sales (2015-2016) : Rs.1300.000 Million

 

The above information has been parted by Mr. Bapu More

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

44.030

56.169

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.40

2.79

4.91

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

17.28

15.05

15.49

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.28

4.77

6.83

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.16

0.24

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.69

1.55

1.57

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.38

1.33

1.29

 

 

 

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

84.685

89.638

94.673

Reserves & Surplus

150.941

188.328

225.302

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

235.626

277.966

319.975

 

 

 

 

long-term borrowings

213.479

242.302

203.213

Short term borrowings

156.421

188.477

336.236

Total borrowings

369.900

430.779

539.449

Debt/Equity ratio

1.570

1.550

1.686

 

 

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)

Sales

1030.915

1039.136

1038.634

 

 

0.797

(0.048)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1030.915

1039.136

1038.634

Profit

50.665

29.042

24.893

 

4.91%

2.79%

2.40%

 

 

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

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

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 four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

PERFORMANCE

 

The directors are expecting better results in terms of turnover and profit next year.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and advances from related parties

3.840

10.054

Total

3.840

10.054

 

INDEX OF CHARGES

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10522614

02/09/2014

900,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CHA
ITANYA NAGAR, PUNE - SATARA ROAD, DHANAKWADI, PUNE
, MAHARASHTRA - 411043, INDIA

C23183494

2

10522610

01/09/2014

36,000,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CHA
ITANYA NAGAR, PUNE - SATARA ROAD, DHANAKWADI, PUNE
, MAHARASHTRA - 411043, INDIA

C23175417

3

10486172

04/03/2014

10,000,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CH
AITANYA NAGAR, PUNE-SATARA ROAD, DHANKAWADI, PUNE,
MAHARASHTRA - 411043, INDIA

C00938985

4

10486173

04/03/2014

350,000,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CH
AITANYA NAGAR, PUNE-SATARA ROAD, DHANKAWADI, PUNE,
MAHARASHTRA - 411043, INDIA

C00939322

5

10486175

04/03/2014

11,350,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CH
AITANYA NAGAR, PUNE-SATARA ROAD, DHANKAWADI, PUNE,
MAHARASHTRA - 411043, INDIA

C00939710

6

10486177

04/03/2014

24,000,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CH
AITANYA NAGAR, PUNE-SATARA ROAD, DHANKAWADI, PUNE,
MAHARASHTRA - 411043, INDIA

C00940221

7

10486184

04/03/2014

54,675,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CH
AITANYA NAGAR, PUNE-SATARA ROAD, DHANKAWADI, PUNE,
MAHARASHTRA - 411043, INDIA

C00940932

8

10486185

04/03/2014

577,125,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI-PUNE BRANCH, PANCHARATNA HEIGHTS,, CH
AITANYA NAGAR, PUNE-SATARA ROAD, DHANKAWADI, PUNE,
MAHARASHTRA - 411043, INDIA

C00941476

9

10486286

04/03/2014

5,200,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CH
AITANYA NAGAR, PUNE-SATARA ROAD, DHANKAWADI, PUNE,
MAHARASHTRA - 411043, INDIA

C00965020

10

10486317

04/03/2014

85,900,000.00

THE BHARAT CO-OPERATIVE BANK(MUMBAI) LTD

DHANKAWADI PUNE BRANCH, PANCHARATNA HEIGHTS,, CH
AITANYA NAGAR, PUNE-SATARA ROAD, DHANKAWADI, PUNE,
MAHARASHTRA - 411043, INDIA

C00981381

 

 

FIXED ASSETS

 

Tangible 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 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

UK Pound

1

Rs.99.17

Euro

1

Rs.72.14

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

AMR

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

35

 

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.