MIRA INFORM REPORT
|
Report No. : |
356459 |
|
Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MENON AND MENON LIMITED (w.e.f. 01.03.2007) |
|
|
|
|
Formerly Known
As : |
MENON
AND MENON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Vikram Nagar, Kolhapur – 416005, Maharashtra |
|
Tel. No.: |
91-231-2687144 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
06.10.1969 |
|
|
|
|
Com. Reg. No.: |
11-014404 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 80.000
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29119MH1969PLC014404 |
|
|
|
|
IEC No.: |
0390010294 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
KLPM01585D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM8804C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Grey Iron Castings and Hydraulic Assemblies.
(Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company incorporated in the year 1969. It is engaged in manufacturing of grey iron casting and hydraulic Assemblies. For the financial year ended 2015, the company has healthy scale of Operations marked by decent top line along with profitability margin of 2.2 % Rating derives strength from long business track along with Extensive experience of promoters. Further, it has sound financial Base backed by adequate net worth positions. Trade relations are fair. Business is active. Payments are regular and as per commitments. The company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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. Chawan |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-2687144 |
|
Date : |
23.12.2015 |
LOCATIONS
|
Registered Office : |
Vikram Nagar, Kolhapur – 416005, Maharashtra, India |
|
Tel. No.: |
91-231-2687144 |
|
Fax No.: |
91-231-2687205 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Jaysinh Sakharam Konkar |
|
Designation : |
Director |
|
Address : |
302,Vinspa Apartments, 6-Boat Club Road, Pune -411001, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1943 |
|
Qualification : |
B.E. (Mech.), M.E. (Prod.), Diploma (Opns. Mgt.) |
|
Date of Appointment : |
18.09.2002 |
|
DIN No.: |
00011924 |
|
|
|
|
Name : |
Mr. Vijay Chandran Menon |
|
Designation : |
Managing director |
|
Address : |
236 E Kairali Tarabai Park, Kolhapur - 416003, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1956 |
|
Qualification : |
B.E. (Mech.) MBA (Illinois State University , USA) |
|
PAN No.: |
ABJPM0490Q |
|
Date of Appointment : |
30.09.1994 |
|
DIN No.: |
00254390 |
|
|
|
|
Name : |
Mr. Chidambaranathan Ramakrishnan |
|
Designation : |
Director |
|
Address : |
202, Vishnudeep Apartments, 7th Main,, Between 8th And 9th Cross, Malleswaram, Bangalore - 560003, Karnataka, India |
|
Date of Birth/Age : |
25.04.1960 |
|
Date of Appointment : |
03.09.2004 |
|
DIN No.: |
00481651 |
|
|
|
|
Name : |
Mr. Satish Chandran Menon |
|
Designation : |
Director |
|
Address : |
236, E Ward, Kairali Bunglow, Tarabai Park, Kolhapur - 416003, Maharashtra, India |
|
Date of Appointment : |
28.02.2015 |
|
DIN No.: |
03545810 |
KEY EXECUTIVES
|
Name : |
Mr. Kishor Babasaheb Hupare |
|
Designation : |
Secretary |
|
Address : |
Rajmane High School Javal, Rui, Hatkanangale, Kolhapur, 416116, Maharashtra, India |
|
Date of Birth/Age : |
31.05.1988 |
|
Date of Appointment : |
31.05.2014 |
|
PAN No.: |
ADKPH5442E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Chandran Menon |
|
3155732 |
|
Satish Chandran Menon |
|
1660068 |
|
Padmini Chandran Menon |
|
340600 |
|
Preethi Vijay Menon |
|
509200 |
|
Parmeswaran Kurup |
|
23200 |
|
Vinod Menon |
|
23200 |
|
Reliance Cpaital Limited, India |
|
1560000 |
|
Divya Vijay Menon |
|
100000 |
|
Reliance shares and stock Brokers Limited, India |
|
528000 |
|
Shreya Vijay Menon |
|
100000 |
|
|
|
|
|
Total |
|
8000000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
26.00 |
|
Directors
or relatives of directors |
74.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Grey Iron Castings and Hydraulic Assemblies.
(Registered Activity) |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by management |
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Bankers : |
· The Saraswant Co-operative Bank Limited C.T.S. No. 1716, E Ward, Rajarampuri, 7th Lane, Kolhapur - 416008, Maharashtra, india · Industrial Development Bank of India Limited Shivaji Chowk, Kolhapur - 416002, Maharashtra, India |
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Facilities : |
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
P.M. Vardhe and Company Chartered Accountants |
|
Address : |
630, E Shahupuri, 1st Lane, Kolhapur –
416001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AANPV5690A |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives: |
Nathan and Nathan Consultants Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Million |
|
2,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 20.000 Million |
|
|
Total |
|
Rs. 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000
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 |
80.000 |
80.000 |
80.000 |
|
(b) Reserves & Surplus |
490.847 |
439.192 |
348.143 |
|
(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) |
570.847 |
519.192 |
428.143 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
735.067 |
583.084 |
83.547 |
|
(b) Deferred tax liabilities (Net) |
1.913 |
20.776 |
18.330 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
17.752 |
20.525 |
18.611 |
|
Total
Non-current Liabilities (3) |
754.732 |
624.385 |
120.488 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
9.486 |
17.292 |
19.152 |
|
(b)
Trade payables |
131.898 |
85.429 |
96.673 |
|
(c)
Other current liabilities |
233.350 |
244.632 |
172.748 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
4.649 |
|
Total
Current Liabilities (4) |
374.734 |
347.353 |
293.222 |
|
|
|
|
|
|
TOTAL |
1700.313 |
1490.930 |
841.853 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1152.538 |
412.082 |
431.186 |
|
(ii)
Intangible Assets |
1.247 |
1.642 |
1.981 |
|
(iii)
Capital work-in-progress |
96.512 |
667.852 |
19.201 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.027 |
0.527 |
0.025 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
59.979 |
53.928 |
95.652 |
|
(e)
Other Non-current assets |
2.000 |
1.000 |
3.132 |
|
Total
Non-Current Assets |
1312.303 |
1137.031 |
551.177 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
121.370 |
89.055 |
98.854 |
|
(c)
Trade receivables |
100.333 |
84.359 |
116.428 |
|
(d)
Cash and cash equivalents |
35.865 |
72.867 |
51.273 |
|
(e)
Short-term loans and advances |
3.727 |
8.221 |
7.280 |
|
(f)
Other current assets |
126.715 |
99.397 |
16.841 |
|
Total
Current Assets |
388.010 |
353.899 |
290.676 |
|
|
|
|
|
|
TOTAL |
1700.313 |
1490.930 |
841.853 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2238.514 |
2140.632 |
2156.721 |
|
|
|
Other Income |
24.835 |
15.446 |
22.924 |
|
|
|
TOTAL (A) |
2263.349 |
2156.078 |
2179.645 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
942.185 |
840.992 |
833.264 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(39.018) |
(1.029) |
5.219 |
|
|
|
Employees benefits expense |
327.701 |
315.711 |
288.746 |
|
|
|
Other expenses |
825.746 |
776.207 |
802.861 |
|
|
|
TOTAL (B) |
2056.614 |
1931.881 |
1930.090 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
206.735 |
224.197 |
249.555 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
89.692 |
31.179 |
28.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
117.043 |
193.018 |
220.960 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
81.286 |
50.429 |
44.875 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
35.757 |
142.589 |
176.085 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(18.983) |
51.540 |
50.135 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
54.740 |
91.049 |
125.950 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
7.599 |
5.118 |
19.657 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
22.879 |
34.514 |
73.589 |
|
|
|
Capital Goods |
4.680 |
143.332 |
61.952 |
|
|
|
Machinery Spares |
0.331 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
27.89 |
177.846 |
135.541 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
684246.68 |
1138108.00 |
15.74 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
77.266 |
42.108 |
37.672 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
78.277 |
214.954 |
250.239 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.45 |
4.25 |
5.84 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.24 |
10.47 |
11.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.23 |
17.33 |
21.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.27 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.44 |
1.24 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.02 |
0.99 |
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 |
80.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
348.143 |
439.192 |
490.847 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
428.143 |
519.192 |
570.847 |
|
|
|
|
|
|
Long-term borrowings |
83.547 |
583.084 |
735.067 |
|
Short term borrowings |
19.152 |
17.292 |
9.486 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
37.672 |
42.108 |
77.266 |
|
Total
borrowings |
140.371 |
642.484 |
821.819 |
|
Debt/Equity
ratio |
0.328 |
1.237 |
1.440 |
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 |
2156.721 |
2140.632 |
2238.514 |
|
|
|
-0.746 |
4.573 |
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 |
2156.721 |
2140.632 |
2238.514 |
|
Profit |
125.950 |
91.049 |
54.740 |
|
|
5.84% |
4.25% |
2.45% |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10463728 |
30/04/2014
* |
185,000,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
C.T.S. NO.
1716, E WARD, RAJARAMPURI 7TH LANE, KOL |
C13644315 |
|
2 |
10463726 |
30/04/2014
* |
820,800,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
C.T.S.
NO. 1716, E WARD, RAJARAMPURI 7TH LANE, KOL |
C13649736 |
|
3 |
10406407 |
21/02/2013 |
46,000,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LTD. |
C.T.S.NO.1716,
E WARD RAJARAMPURI,, 7TH LANE., KO |
B68964691 |
|
4 |
10402098 |
02/02/2013 |
20,600,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LTD. |
C.T.S.NO.1716,
E WARD RAJARAMPURI, 7TH LANE., KO |
B67749994 |
|
5 |
10334604 |
30/01/2012 |
36,600,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
C.T.S.NO.1716,
E WARD RAJARAMPURI, 7TH LANE., KO |
B31693229 |
|
6 |
10295558 |
22/02/2013
* |
4,800,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
C.T.S.NO.1716,
E WARD RAJARAMPURI, 7TH LANE., KOLHAPUR - 416008, MAHARASHTRA, INDIA |
B93297687 |
|
7 |
10276710 |
22/02/2013
* |
50,000,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
C.T.S.NO.1716,
E WARD RAJARAMPURI, 7TH LANE., KO |
B93296135 |
* Date of charge modification
FINANCIAL PERFORMANCE
The Company witnessed a down turn in the Auto Sector, in which it has it’s business, for the second consecutive year.
The Greenfield Foundry Project at Kagal was completed within the overall capex budget and has gone into commercial production with effect from July 16, 2014.
The Company recorded a total revenue of Rs. 2263.400 million, an increase of around 4.98% against Rs. 2156.100 million in the previous year.
The EBIDTA at Rs. 206.800 million was lower at 8.93% compare to the last years Rs.227.100 million. The PBT at Rs. 35.800 million is lower than Rs.142.600 million of last year mainly on account of higher interest and depreciation incurred / charged for the Kagal project.
The Company’s Direct Exports to US were Rs. 7.600 million. Company’s Deemed Exports through SAME Deutz were at Rs. 182.300 million.
During the year, the Company has generated wind power of around 2.385 million units from 1.25 MW WTG Windmill located at Sadawaghapur, Near Satara, Maharashtra.
The Company has been awarded Rating of “SME -1” for the FY 2015-16 by “CRISIL RATING”. This rating indicates “Highest” level of Creditworthiness, adjudged in relation to other SMEs
FIXED ASSETS:
·
Land
·
Factory Building
·
Well Borewell
·
Roads
·
Plant and Machinery
·
Patterns
·
Furniture and Fixture
·
Moulding Boxes
·
Electrical Installation
·
Office Equipment
·
Vehicles
·
Software Development
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.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.