MIRA INFORM REPORT
|
Report No. : |
356506 |
|
Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBUS STORES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
CORONET ESTATES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rahejas Corner of |
|
Tel. No.: |
91-22 26057101/02 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
23.04.1992 |
|
|
|
|
Com. Reg. No.: |
11-066474 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1330.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1992PTC066474 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05986B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG3579Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Retailer of Garments. (From Indirect Sources) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Globus Stores Private Limited was incorporated in the year 1992 and it
is having moderate track record. The company has reported weak financial profile marked by accumulated
losses, which has eroded the net worth of the company. Rating is further constrained due to company’s huge external
borrowings which has risked the liquidity position of the company. The company has achieved modest sales turnover and improved cash and
its equivalents during year under review. However, business is active. Payments terms are reported to be slow. In view of aforesaid, the company can be considered for business
dealings with safe and secure 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Bhupendra Manhi |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-26058731 |
|
Date : |
23.12.2015 |
LOCATIONS
|
Registered Office : |
Rahejas Corner of |
|
Tel. No.: |
91-22 26057101/02 |
|
Fax No.: |
91-22-26057104 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Vellore, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Vinay Gajanan Nadkarni |
|
Designation : |
Managing director |
|
Address : |
Flat B-803, Videocon Tower B Coop HSG Society Limited, Thakur Complex, Off W.E.H., Kandivli, Mumbai, 400101, Maharashtra, INDIA |
|
Date of Birth/Age : |
04.05.1965 |
|
Qualification: |
B Com, CA, ICWA, CS |
|
Date of Appointment : |
11.02.2010 |
|
DIN No.: |
02895960 |
|
|
|
|
Name : |
Mr. Vinayak
Premchand Aggarwal |
|
Designation : |
Director |
|
Address : |
502, Gladioli, Off Yari Road, Versova, Andheri (West), Mumbai – 400
061, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1969 |
|
Qualification: |
B Com, ICWA, MBA |
|
Date of Appointment : |
12.06.2000 |
|
DIN No.: |
00007280 |
|
|
|
|
Name : |
Mr. Akshay Rajan Raheja |
|
Designation : |
Director |
|
Address : |
Rahejas 87/1, G B Marg, Juhu, Mumbai – 400 049, |
|
Date of Birth/Age : |
25.05.1982 |
|
Qualification: |
B Com, MBA |
|
Date of Appointment : |
05.06.2000 |
|
DIN No.: |
00288397 |
|
|
|
|
Name : |
Mr. Rajan Beharilal Raheja |
|
Designation : |
Director |
|
Address : |
"Rahejas", 87/1, G. B. Marg, Juhu, Mumbai -
400049, Maharashtra, India |
|
Qualification: |
B Com |
|
Date of Appointment : |
02.03.2015 |
|
DIN No.: |
00037480 |
|
|
|
|
Name : |
Mr. Aneesha Akshay Raheja |
|
Designation : |
Director |
|
Address : |
87/1, Rahejas, G. B. Marg, Juhu, Mumbai - 400049,
Maharashtra, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
06560989 |
KEY EXECUTIVES
|
Name : |
Mr. Vinay Nadkarni |
|
Designation : |
Secretary |
|
Address : |
B-803, Videocon Tower "B" CHS Ltd., Thakur Complex, Off Western Express Highway, Kandivli - East, Mumbai, 400101, Maharashtra, INDIA |
|
Date of Appointment : |
29.12.2001 |
|
PAN No.: |
AABPN4813H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Rajan Raheja Jointly With
Suman
Raheja |
|
1170200 |
|
Suman Raheja Jointly With Rajan Raheja |
|
1170200 |
|
Akshay Raheja Jointly
With Suman
Raheja |
|
2040000 |
|
Viren Raheja Jointly With Suman Raheja |
|
2040000 |
|
Gataad Investment and Finance Private Limited, India |
|
1500000 |
|
Trophy Investment and Finance Private Limited, India |
|
1500000 |
|
Akshay Raheja Jointly
With Viren
Raheja |
|
1039800 |
|
Viren Raheja Jointly With Akshay
Raheja |
|
1039800 |
|
Total |
|
11500000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Peninsula Estates Private Limited, India |
|
800000 |
|
Rajan Raheja Jointly With
Suman
Raheja |
|
500000 |
|
Suman Raheja Jointly With Rajan Raheja |
|
500000 |
|
Total |
|
1800000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
26.09 |
|
Directors or relatives of Directors |
73.91 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Retailer of Garments. (From Indirect Sources) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Financial Institute: |
Housing Development Finance Corporation Limited, Ramon
House 169backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra,
India |
|
|
|
|
Auditors : |
|
|
Name : |
G.M. Kapadia and Company Chartered Accountants |
|
Address : |
1001 Raheja Chambers 213, Free Press Journal Marg, Nariman Point, Mumbai 400021, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFG4713G |
|
|
|
|
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 : |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,500,000 |
Equity Shares |
Rs.100/- each |
Rs. 1150.000 Million |
|
2,000,000 |
Preference Shares |
Rs.100/- each |
Rs.200.000 Million |
|
|
Total |
|
Rs.1350.000 Million
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,500,000 |
Equity Shares |
Rs.100/- each |
Rs. 1150.000 Million |
|
1,800,000 |
Preference Shares |
Rs.100/- each |
Rs.180.000 Million |
|
|
Total |
|
Rs.1330.000
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 |
1330.000 |
1330.000 |
1330.000 |
|
(b) Reserves & Surplus |
(2133.145) |
(1853.442) |
(1536.692) |
|
(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) |
(803.145) |
(523.442) |
(206.692) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1078.679 |
860.404 |
804.126 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
96.000 |
96.000 |
96.000 |
|
(d) long-term provisions |
1.253 |
1.304 |
1.384 |
|
Total
Non-current Liabilities (3) |
1175.932 |
957.708 |
901.510 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
396.879 |
290.810 |
225.405 |
|
(b) Trade payables |
567.783 |
706.818 |
561.429 |
|
(c) Other current liabilities |
168.706 |
182.194 |
170.244 |
|
(d) Short-term provisions |
3.076 |
4.298 |
3.417 |
|
Total
Current Liabilities (4) |
1136.444 |
1184.120 |
960.495 |
|
|
|
|
|
|
TOTAL |
1509.231 |
1618.386 |
1655.313 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
704.693 |
841.723 |
873.114 |
|
(ii) Intangible Assets |
20.652 |
29.136 |
19.349 |
|
(iii) Capital work-in-progress |
1.071 |
0.131 |
4.374 |
|
(iv) Intangible assets under
development |
0.483 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.150 |
0.150 |
0.150 |
|
(c) Deferred tax assets (net) |
27.177 |
25.205 |
27.212 |
|
(d) Long-term Loan and Advances |
16.521 |
20.878 |
41.083 |
|
(e) Other Non-current assets |
6.948 |
7.879 |
7.475 |
|
Total
Non-Current Assets |
777.695 |
925.102 |
972.757 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
511.116 |
485.053 |
476.809 |
|
(c) Trade receivables |
5.775 |
4.744 |
9.777 |
|
(d) Cash and cash equivalents |
53.890 |
52.793 |
54.110 |
|
(e) Short-term loans and
advances |
160.258 |
150.234 |
138.196 |
|
(f) Other current assets |
0.497 |
0.460 |
3.664 |
|
Total
Current Assets |
731.536 |
693.284 |
682.556 |
|
|
|
|
|
|
TOTAL |
1509.231 |
1618.386 |
1655.313 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
2017.137 |
2273.392 |
|
|
|
Other Income |
125.008 |
72.034 |
|
|
|
TOTAL
(A) |
2142.145 |
2345.426 |
2308.780 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
138.583 |
56.428 |
|
|
|
Purchases of Stock-in-Trade |
970.766 |
1231.841 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(29.104) |
6.573 |
|
|
|
Employees benefits expense |
235.076 |
251.059 |
|
|
|
Other expenses |
847.204 |
949.388 |
|
|
|
Prior period items |
(0.585) |
(0.002) |
|
|
|
TOTAL
(B) |
2161.940 |
2495.287 |
2630.215 (Including
Financial Expenses and Depreciation) |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(19.795) |
(149.861) |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
117.176 |
93.777 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(136.971) |
(243.638) |
|
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
125.766 |
71.104 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(262.737) |
(314.742) |
(321.435) |
|
|
|
|
|
|
|
Less |
TAX (H) |
3.880 |
2.007 |
(0.765) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(266.617) |
(316.749) |
(320.670) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1863.243) |
(1546.492) |
(1225.823) |
|
|
|
|
|
|
|
|
PRIOR
PERIOD EXPENSES/ADJUSTMENT |
0.000 |
0.002 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(2129.858) |
(1863.243) |
(1546.492) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
19.381 |
28.448 |
|
|
TOTAL
EARNINGS |
NA |
19.381 |
28.448 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(23.18) |
(27.54) |
(24.11) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(315.471) |
(52.387) |
(31.293) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(13.22) |
(13.93) |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(0.98) |
(6.59) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.75) |
(19.76) |
(19.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.60 |
1.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(1.84) |
(2.20) |
(4.98) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.64 |
0.59 |
0.71 |
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 |
1330.000 |
1330.000 |
1330.000 |
|
Reserves & Surplus |
(1536.692) |
(1853.442) |
(2133.145) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(206.692) |
(523.442) |
(803.145) |
|
|
|
|
|
|
long-term borrowings |
804.126 |
860.404 |
1078.679 |
|
Short term borrowings |
225.405 |
290.810 |
396.879 |
|
Total
borrowings |
1029.531 |
1151.214 |
1475.558 |
|
Debt/Equity
ratio |
(4.981) |
(2.199) |
(1.837) |
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) |
|
Total Income |
2308.780 |
2345.426 |
2142.145 |
|
|
|
1.587 |
-8.667 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
2308.780 |
2345.426 |
2142.145 |
|
Profit |
(320.670) |
(244.715) |
(141.609) |
|
|
(13.89%) |
(10.43%) |
(6.61%) |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
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 |
FINANCIAL HIGHLIGHTS
During the year, the Company has recorded a 8.67% drop in the Operational and other income from Rs. 2345.426 Million to Rs. 21,42.144 Million, however, owing to the cost cutting initiatives adopted by the Company the EBIDTA showed a 85.72% improvement from Rs 146.719 Million loss last year to Rs 20.943 Million loss this year.
The Companies Act, 2013 has mandated new useful life of assets in business. Consequent to this, the depreciation charge for the year has increased by Rs 54.662 Million. This higher depreciation provisioning along with increased interest outgo during the year resulted in net loss of Rs 263.320 Million as against a net loss of Rs. 314.746 Million last year i.e. 16.34% improvement.
The own branded garments and accessories business of the Company has seen pressures over the last two years in terms of sales and margins. This is partly because of the onslaught of the E-Commerce sites and their aggressive discounting. The Company has, during the year, responded to this challenge by selling its products from most of the major E-Commerce sites and has seen a good potential of growth there. The Company is also investing in upgrading its own E-Commerce site with all latest features to make it read for the omni channel retailing experience in future.
In another first, the Company opened its first category specific small format store at the R City mall in Mumbai in April 2015. This small format store is churning out very good numbers and the Company would look at taking this concept and gaining entry into more popular and successful malls across the country in the current financial year.
Continuing with the decision to close down chronic loss making stores, the Company has shut down operations of its store in Jalandhar in August 2014. With the growth of business from E-Commerce sites, the Company realizes that the utility of factory outlet stores is diminishing hence the Company has discontinued two factory outlets during the year.
In July 2014, the Company has also temporarily closed down operations of its store in City Mall 36, Raipur owing to renovation and re positioning of the Mall by the developer. This store is likely to open once the Mall becomes operational
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from directors |
300.819 |
0.477 |
|
Loans and advances from others |
122.258 |
369.927 |
|
SHORT TERM
BORROWING |
|
|
|
Intercorporate borrowings |
35.000 |
35.000 |
|
Loans and advances from related parties |
0.000 |
6.723 |
|
Total |
458.077 |
412.127 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10595447 |
07/10/2015 |
650,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
C66486648 |
|
2 |
10309364 |
28/09/2011 |
250,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B22198741 |
|
3 |
10295682 |
13/10/2015 * |
150,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
C73518466 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
Intangible assets
- Computer software
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.66.20 |
|
UK Pound |
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.