MIRA INFORM REPORT
|
Report No. : |
357048 |
|
Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
CROWN LAMINATES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Block No. 419/1, 419/7, Radhe Industrial Estate, Tajpur Road,
Changodar, Taluka Sanand, Changodar – 382213, Gujarat |
|
Tel. No.: |
91-79-40017979 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
20.11.2009 |
|
|
|
|
Com. Reg. No.: |
04-058631 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.090 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36101GJ2009PTC058631 |
|
|
|
|
IEC No.: |
0811006581 |
|
|
|
|
TIN No.: |
24074301924 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AADCC8023H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Decorative Laminated Sheets.[ Registered Activity and also
confirmed by management] |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
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 |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was established in the year 2009 and it is engaged in the
manufacturing and exporting of decorative laminated sheets. The company possesses weak operational performance and reported losses
from its operational activities. Rating remain constrained on account of company’s moderate financial
profile marked by weak networth along with moderate debt coverage indicators
and unfavorable gap between trade payables to is receivables. Trade relations are fair. Business is active. Payment terms are slow but
correct. The company can be considered for business dealing 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.
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 PARTED BY
|
Name : |
Mr. Dinesh Bhai |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-79-40017979 |
|
Date : |
24.12.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Block No. 419/1, 419/7, Radhe Industrial Estate, Tajpur Road,
Changodar, Taluka Sanand, Changodar – 382213, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
106, 1st Floor, Patel Avenue, Near Gurudwara, S.G. Road, Ahmedabad – 380059,
Gujarat, India |
|
Tel. No.: |
91-79-40017979 |
|
Fax No.: |
91-79-40017900 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Jitendra Tulsidas Patel |
|
Designation : |
Director |
|
Address : |
11, Mannekbaug Society, Satellite Road, Ahmedabad – 380015, Gujarat,
India |
|
Date of Birth/Age : |
15.06.1960 |
|
Date of Appointment : |
22.11.2009 |
|
DIN No.: |
00204168 |
|
|
|
|
Name : |
Mr. Arvindkumar Ambalal Patel |
|
Designation : |
Director |
|
Address : |
8, Basant Rajab Park Society, Satellite Road, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
19.03.1957 |
|
Date of Appointment : |
20.11.2009 |
|
DIN No.: |
00211536 |
|
|
|
|
Name : |
Mr. Manish Vallabhbhai Ghetia |
|
Designation : |
Director |
|
Address : |
905, Kalasagar Tower, Jodhpur Char Rasta, Satellite, Ahmedabad –
380015, Gujarat, India |
|
Date of Birth/Age : |
09.11.1963 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
02974878 |
|
|
|
|
Name : |
Mr. Shiv Jitendra Patel |
|
Designation : |
Director |
|
Address : |
11, Manekbaug Society, Opp Kanchandeep Building, S M Road, Ahmedabad - 380015, Gujarat, India |
|
Date of Appointment : |
20.10.2014 |
|
DIN No.: |
06999540 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Bhai |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2015
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Jitendra Patel |
51765 |
8.50 |
|
Arvind Patel |
26796 |
4.40 |
|
Olympic Laminates Private Limited |
298410 |
49.00 |
|
Jay Patel |
26796 |
4.40 |
|
Bharat Patel |
31059 |
5.10 |
|
Dinesh Patel |
52374 |
8.60 |
|
Manish Ghetia |
121800 |
20.00 |
|
Total |
609000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
49.00 |
|
Directors or relatives of Directors |
51.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Decorative Laminated Sheets.[ Registered Activity and also
confirmed by management] |
|
|
|
|
Products : |
Decorative Laminated Sheets |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Decorative Laminated Sheets |
|
Countries : |
|
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|
|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
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Terms : |
|
|
Selling : |
Advance Payment, Cheque and Credit [30 Days] |
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|
|
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Purchasing : |
Advance Payment, Cheque and Credit [30 Days] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
Note: LONG TERM
BORROWING: Rem Loan from ICICI Bank Limited of
Rs.105.353 of which Rs.86.063 million classified as a Long Term Borrowing and
rs.19.290 million classifies as Current Maturity of Long Term Borrowings is secured
against Entire Present and Future, movable Fixed Assets of the company,
Equitable Mortgage of Industrial Land, Personal Guarantee of Directors. Car Loan from BMW India Financial Services
Private Limited of Rs.1.299 million of which Rs.0.000 million classified as a
Long Term Borrowing and Rs.1.299 million Classified as Current Maturity of
Long Term borrowings is secured against hypothecation of BMW Motor Car Car Loan from Kotak Mahindra Prime Limited
of Rs.0.195 million of which Rs.0.000 classified as a as Current Maturity of
Long Term borrowings is secured against hypothecation of Verna Motor Car Car Loan from Kotak Mahindra Prime Limited
of Rs.1.839 million of which Rs.1.474 million classified as a Long Term
Borrowing and Rs.0.365 million classified as Current Maturity of Long Term
Borrowings is secured against hypothecation of Fortuner Toyota Car. SHORT
TERM BORROWING: Cash credit is primarily secured by way of
first charge over the entire Current Assets of the Company (Present and
Future) including stock of raw material, work in process, finished goods,
stores, spares, receivables etc. |
|
Auditors : |
|
|
Name : |
Munir Shah and Associates Chartered Accountants |
|
Address : |
27, Sthanakvasi Jain Society, Near Naranpura Crossing, Ahmedabad – 380013, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACMPS6018E |
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
Firm in which KMP/Relatives of KMP can exercise significant
influence : |
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|
Company in which KMP/Relatives of KMP can exercise significant
influence : |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
650000 |
Equity Shares |
Rs.10/- each |
Rs.6.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
609000 |
Equity Shares |
Rs.10/- each |
Rs.6.090
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 |
6.090 |
6.090 |
6.090 |
|
(b) Reserves &
Surplus |
(3.716) |
28.985 |
32.154 |
|
(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) |
2.374 |
35.075 |
38.244 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
175.947 |
202.722 |
201.383 |
|
(b) Deferred tax
liabilities (Net) |
8.320 |
10.971 |
12.443 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.420 |
0.180 |
0.000 |
|
Total Non-current
Liabilities (3) |
184.687 |
213.873 |
213.826 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
77.491 |
99.176 |
72.529 |
|
(b) Trade payables |
221.136 |
172.380 |
167.308 |
|
(c) Other current
liabilities |
32.288 |
17.812 |
14.302 |
|
(d) Short-term provisions |
0.954 |
0.102 |
0.878 |
|
Total Current Liabilities
(4) |
331.869 |
289.470 |
255.017 |
|
|
|
|
|
|
TOTAL |
518.930 |
538.418 |
507.087 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
166.718 |
170.197 |
189.885 |
|
(ii) Intangible Assets |
0.058 |
0.104 |
0.138 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.611 |
1.520 |
1.514 |
|
(e) Other Non-current
assets |
0.223 |
0.063 |
0.095 |
|
Total Non-Current Assets |
168.610 |
171.884 |
191.632 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
201.107 |
209.315 |
180.999 |
|
(c) Trade receivables |
106.039 |
116.284 |
98.504 |
|
(d) Cash and cash
equivalents |
25.976 |
10.749 |
5.729 |
|
(e) Short-term loans and
advances |
17.198 |
30.186 |
30.223 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
350.320 |
366.534 |
315.455 |
|
|
|
|
|
|
TOTAL |
518.930 |
538.418 |
507.087 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
829.365 |
656.230 |
433.004 |
|
|
Other Income |
1.719 |
1.457 |
0.597 |
|
|
TOTAL (A) |
831.084 |
657.687 |
433.601 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
577.145 |
469.610 |
|
|
|
Purchases of
Stock-in-Trade |
53.734 |
10.629 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
7.828 |
(4.687) |
|
|
|
Employees benefits
expense |
30.253 |
26.821 |
|
|
|
Other expenses |
137.206 |
103.854 |
|
|
|
TOTAL (B) |
806.166 |
606.227 |
375.022 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
24.918 |
51.460 |
58.579 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
31.606 |
32.173 |
30.422 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(6.688) |
19.287 |
28.157 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.665 |
23.800 |
21.736 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
(35.353) |
(4.513) |
6.421 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.651) |
(1.472) |
3.493 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
(32.702) |
(3.041) |
2.928 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials and
Chemicals |
165.173 |
75.377 |
50.664 |
|
|
Capital Goods |
8.112 |
0.676 |
11.273 |
|
|
TOTAL IMPORTS |
173.285 |
76.053 |
61.937 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(53.70) |
(4.99) |
4.81 |
Expected Sales (2015-2016): Rs.950.000 Million
The above information has been parted by Mr. Dinesh Bhai (Accounts
Manager).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
21.148 |
10.193 |
6.977 |
|
Cash generated from operations |
118.714 |
11.828 |
3.715 |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(3.94) |
(0.46) |
0.68 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.00 |
7.84 |
13.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.81) |
(0.84) |
1.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(14.89) |
(0.13) |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
115.66 |
8.90 |
7.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.27 |
1.24 |
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 |
6.090 |
6.090 |
6.090 |
|
Reserves & Surplus |
32.154 |
28.985 |
(3.716) |
|
Net worth |
38.244 |
35.075 |
2.374 |
|
|
|
|
|
|
Long-term borrowings |
201.383 |
202.722 |
175.947 |
|
Short term borrowings |
72.529 |
99.176 |
77.491 |
|
Current maturities of
long-term debts |
6.977 |
10.193 |
21.148 |
|
Total borrowings |
280.889 |
312.091 |
274.586 |
|
Debt/Equity ratio |
7.345 |
8.898 |
115.664 |
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 |
433.004 |
656.230 |
829.365 |
|
|
|
51.553 |
26.383 |
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 |
433.004 |
656.230 |
829.365 |
|
Profit |
2.928 |
(3.041) |
(32.702) |
|
|
0.68% |
(0.46%) |
(3.94%) |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
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 |
BUSINESS
PERFORMANCE
During the year, the company reported net income from operation
Rs.829.366 million which is higher than the last year income from operation of
Rs.656.230 million. Net loss after tax reported for the year 2014-2015 is of
Rs.32.701 million against last year net loss of Rs.3.041 million
CORPORATE
INFORMATION
Subject was incorporated as a private limited company on 20th
November 2009, under the companies act of 1956 with Register of Companies Gujarat
vide Registration no. 058631. Presently the Registered office of the company is
situated at Ahmedabad. Subject is engaged in the business of manufacturing and
Trading of Decorative Laminated Sheets.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
88.409 |
95.870 |
|
Total |
88.409 |
95.870 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10289340 |
01/06/2011 |
280,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B13924626 |
|
2 |
10289411 |
30/05/2011 |
280,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B13926993 |
|
3 |
10295322 |
01/06/2011 * |
130,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B16913469 |
|
4 |
10295349 |
01/06/2011 * |
150,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B16918328 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Land
- ‘Building
- Plant and
Machinery
- Computer
- Office
Equipment’s
- Vehicles
Intangible Assets
- 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 : |
SUV |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.