MIRA INFORM REPORT
|
Report No. : |
355467 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
WESTERN INDIA METAL PROCESSORS LIMITED |
|
|
|
|
Registered
Office : |
132-B, Mittal Towers, Nariman Point, Mumbai - 400021, Maharashtra |
|
Tel. No.: |
91-22-22841111 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.08.2006 |
|
|
|
|
Com. Reg. No.: |
11-164182 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 144.079 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109MH2006PLC164182 |
|
|
|
|
IEC no.: |
0307045285 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMW03145C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW6867C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader, Exporter and Importer of Primary and Secondary
Metals and Metal Scrap. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 |
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|
Comments : |
Subject was established in the year 2006 and it is engaged in trading of
prime steel, and also by cutting and slitting the prime steel at external
vendor processor, steel, ferrous and non-ferrous scrap, chemical trading and
metal recycling processes from separation of scrap (basic raw material for
melting process in manufacturing of steel) by shearing, shredding through
magnets and mechanical sorting methods. For the financial year ended 2014, company has achieved marginal
growth of 565 in its revenue profile failed to maintain profit margin and
reported low margin at 0.56% during the year under review. Rating continue to derive strength company’s established track record
of business operations supported by extensive industry experience of
promoters in metal business along with regular funding support received from them
and diversified customer as well as supplier profile. However, the rating strengths are partially offset by weak debt
coverage indicators and moderate solvency ratios due to the trading nature of
the business coupled with high working capital utilization and cyclicality in
the metal industry. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. Note: Management of the company not filed its financial with
government department for the year 2015 and same are not available from any
sources. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
13.02.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
13.02.2015 |
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-Cooperative (Tel. No. 91-22-22841111)
LOCATIONS
|
Registered Office : |
132-B, Mittal Towers, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Tel. No.: |
91-22-22841111 |
|
Fax No.: |
91-22-22882277 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Factory 1 : |
320, Iqbal Compound, LBS Marg, Opposite Kurla Bus Depot, Kurla, Mumbai
- 400070, Maharashtra, India |
|
|
|
|
Factory 2 : |
L-8, MIDC, Taloja, Navi Mumbai, Maharashtra, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Mohd Iqbal Rozanali Khan |
|
Designation : |
Director |
|
Address : |
101, Moru Sadan, S V Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
03.12.1958 |
|
Date of Appointment : |
30.08.2006 |
|
PAN No.: |
ACDPK8308C |
|
DIN No.: |
00260194 |
|
|
|
|
Name : |
Ms. Rabia Mohd Iqbal Khan |
|
Designation : |
Director |
|
Address : |
101, Moru Sadan, S V Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
26.06.1951 |
|
Date of Appointment : |
30.08.2006 |
|
PAN No.: |
ACVPK0221A |
|
DIN No.: |
00260267 |
|
|
|
|
Name : |
Mr. Imran Mohd Iqbal Khan |
|
Designation : |
Director |
|
Address : |
101, Moru Sadan, S V Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
26.03.1977 |
|
Date of Appointment : |
23.05.2007 |
|
PAN No.: |
ACVPK0110C |
|
DIN No.: |
01264376 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Mohd Iqbal Khan |
3269907 |
|
Irmran Khan |
3087857 |
|
Rabia Khan |
1071782 |
|
Bushra Khan |
1000 |
|
Saima Khan |
73175 |
|
Azizulla Khan |
1000 |
|
Firdaus Khan |
21625 |
|
Ayeshabi R Khan |
1200000 |
|
Konar Metals Private Limited, India |
1532600 |
|
Maharaja Steel and Alloy Private Limited, India |
1312100 |
|
Swarnadhara Vinimay Private Limited, India |
100000 |
|
Silicon Tradelink Private Limited, India |
100000 |
|
Shree Kabir Vinimay Private Limited, India |
195000 |
|
Westcoast Realtors and Developers Private Limited, India |
676700 |
|
Juhu Investment Private Limited, India |
35920 |
|
Chandadevi Ganeshprasad Sahu |
64000 |
|
Rakesh Kumar Sahu |
67340 |
|
Star Light Hospitality |
260900 |
|
Components and Power Equipment Company Limited, India |
100000 |
|
Afasha Rashid Chaudhary |
21000 |
|
Ambrina Ubaidulla Chaudhary |
21000 |
|
Amina Khatoon Chaudhary |
21000 |
|
Ubaidulla Chaudhary |
37000 |
|
Ameya Agencies Private Limited, India |
114000 |
|
Seven Seas Holding Limited, India
|
3169220 |
|
Diganta Trading Private Limited |
1375000 |
|
Total |
17929126 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage of Holding |
|
Bodies corporate |
36.01 |
|
Directors or relatives of Directors |
60.57 |
|
Other top fifty shareholders |
3.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Exporter and Importer of Primary and Secondary
Metals and Metal Scrap. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers, End Users and Manufacturer
|
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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|
Auditors : |
|
|
Name : |
RSVA and Company Chartered Accountants |
|
Address : |
B-301 Rajdarshan Bldg Dada Patil Wadi Opposite Thn Rly Station Thane (West) - 400602 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAYFS1415P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associate companies
where managing directors or relatives of managing director are Directors : |
· Seven Seas Holdings Limited CIN No.: U65923MH2012PLC227810 · Diganta Trading Private Limited CIN No.: U74999WB2012PTC173995 · Ameya Merchandise Exports Private Limited CIN No.: U51909MH2003PTC143754 · Westcoast Realtors and Developers Private Limited CIN No.: U45201MH2007PTC169869 · Himachal Riverside Wellness Resort and Country Club Private Limited CIN No.: U74990MH2011PTC214212 |
CAPITAL STRUCTURE
After 30.09.2014
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 |
|
|
|
|
|
|
17929126 |
Equity Shares |
Rs.10/- each |
Rs. 179.291 Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,407,906 |
Equity Shares |
Rs.10/- each |
Rs. 144.079 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 |
144.079 |
139.988 |
117.388 |
|
(b) Reserves & Surplus |
297.730 |
267.042 |
201.143 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
55.637 |
45.000 |
|
Total Shareholders’
Funds (1) + (2) |
441.809 |
462.667 |
363.531 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
31.082 |
1.440 |
2.629 |
|
(b) Deferred tax liabilities (Net) |
0.420 |
0.395 |
0.328 |
|
(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) |
31.502 |
1.835 |
2.957 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
682.750 |
703.256 |
507.202 |
|
(b) Trade
payables |
451.766 |
203.495 |
271.622 |
|
(c) Other
current liabilities |
4.642 |
5.873 |
14.512 |
|
(d) Short-term
provisions |
40.025 |
43.058 |
26.160 |
|
Total Current
Liabilities (4) |
1179.183 |
955.682 |
819.496 |
|
|
|
|
|
|
TOTAL |
1652.494 |
1420.184 |
1185.984 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.954 |
5.519 |
6.140 |
|
(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 |
2.998 |
1.360 |
1.360 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.801 |
0.062 |
0.062 |
|
(e) Other
Non-current assets |
35.047 |
33.194 |
22.878 |
|
Total Non-Current
Assets |
43.800 |
40.135 |
30.440 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1052.423 |
766.629 |
632.116 |
|
(c) Trade
receivables |
406.304 |
394.578 |
396.703 |
|
(d) Cash
and cash equivalents |
138.868 |
136.642 |
71.527 |
|
(e)
Short-term loans and advances |
11.099 |
82.200 |
55.030 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.168 |
|
Total
Current Assets |
1608.694 |
1380.049 |
1155.544 |
|
|
|
|
|
|
TOTAL |
1652.494 |
1420.184 |
1185.984 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
4305.786 |
4070.416 |
3539.607 |
|
|
|
Other Income |
11.452 |
15.872 |
5.448 |
|
|
|
TOTAL (A) |
4317.238 |
4086.288 |
3545.055 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
4426.650 |
4049.467 |
3565.823 |
|
|
|
Changes in Inventories of finished goods, work-in-progress
and stock-in-trade |
(285.794) |
(134.514) |
(152.822) |
|
|
|
Employee Benefits Expenses |
2.095 |
1.468 |
1.428 |
|
|
|
Other Expenses |
18.508 |
29.043 |
29.182 |
|
|
|
Extra ordinary Items |
0.070 |
3.200 |
0.000 |
|
|
|
Prior Period Items |
0.000 |
0.000 |
0.085 |
|
|
|
TOTAL (B) |
4161.529 |
3948.664 |
3443.696 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
155.709 |
137.624 |
101.359 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
118.828 |
92.784 |
61.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
36.881 |
44.840 |
39.953 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.824 |
0.812 |
0.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
36.057 |
44.028 |
39.270 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.914 |
14.289 |
12.769 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
24.143 |
29.739 |
26.501 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
1.873 |
12.495 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
1.69 |
2.79 |
2.46 |
|
|
|
Diluted |
1.69 |
2.79 |
2.45 |
|
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 flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.56 |
0.73 |
0.75 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.62 |
3.38 |
2.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.19 |
3.10 |
3.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.62 |
1.52 |
1.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.44 |
1.41 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
117.388 |
139.988 |
144.079 |
|
Reserves & Surplus |
201.143 |
267.042 |
297.730 |
|
Share Application money
pending allotment |
45.000 |
55.637 |
0.000 |
|
Net
worth |
363.531 |
462.667 |
441.809 |
|
|
|
|
|
|
long-term borrowings |
2.629 |
1.440 |
31.082 |
|
Short term borrowings |
507.202 |
703.256 |
682.750 |
|
Total
borrowings |
509.831 |
704.696 |
713.832 |
|
Debt/Equity
ratio |
1.402 |
1.523 |
1.616 |
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) |
|
Total Income |
3545.055 |
4086.288 |
4317.238 |
|
|
|
15.267 |
5.652 |
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 |
3545.055 |
4086.288 |
4317.238 |
|
Profit |
26.501 |
29.739 |
24.143 |
|
|
0.75% |
0.73% |
0.56% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The registered office of the company has been shifted from 320, Iqbal
Compound, LBS Marg, Opposite Kurla Bus Depot, Kurla, Mumbai - 400070,
Maharashtra, India to present address w.e.f. 15.02.2012.
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term loans from banks |
9.732 |
0.000 |
|
Term loans from others |
16.393 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from others |
107.401 |
4.533 |
|
Total |
133.526 |
4.533 |
INDEX
OF CHARGES
|
.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10430773 |
11/09/2012 |
300,000,000.00 |
UNITED BANK OF INDIA |
HOTEL OBEROI TOWERS BRANCH, HOTEL OBEROI TOWERS, |
B69095412 |
|
2 |
10082093 |
27/02/2013 * |
648,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION BRANCH, RAHEJA CHAMBERS, FREE |
B69094282 |
FIXED ASSETS
Tangible Assets
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.72.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
41 |
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.