MIRA INFORM REPORT
|
Report No. : |
356316 |
|
Report Date : |
28.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
APPU INTERNATIONAL |
|
|
|
|
Registered
Office : |
C-75, Phase-V, Focal Point, Ludhiana - 141010, Punjab |
|
Tel. No.: |
91-161-6538104 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2015 |
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|
Year of
Establishment : |
1992 |
|
|
|
|
Capital
Investment : |
Rs. 109.949 Million |
|
|
|
|
IEC No.: |
3003005090 |
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|
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PAN No.: [Permanent Account No.] |
ACVPA2205J |
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Legal Form : |
Sole Proprietary Concern |
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|
|
|
Line of Business
: |
Manufacturer of all types of Cycle Parts
like Frame, Fork, Basket, Dress Guard, Saree Guard, Lamp Bracket, Handle,
Chain Wheel, Saddle, etc. (Confirmed by Management) |
|
|
|
|
No. of Employees
: |
715 (In Office 65, In Factory 650) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Appu International (API) was set up in the year 1992, as a proprietorship firm established by Ms Meenu Aul. The firm has three manufacturing units located in Ludhiana, Punjab. API manufactures bicycle components for the original equipment manufacturers (OEMs) viz Hero Cycle Limited, Atlas Cycle (Haryana) Limited, Tube Investments of India Limited (TIIL). The firm also sells its product under its brand ‘Appu’. The firm is ISO 9001:2000 certified for its quality systems. The rating takes into account by the experienced proprietor along with long track record of operations, satisfactory capital structure and operating cycle along with healthy profitability margin and established relationship with reputed clients. This rating are however constrained by the customer concentration risk with a presence in the highly competitive industry, high reliance on demand of bicycle from government schemes and increased demand for higher-end bicycles. However, trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct and as per commitments. In view of long established track record, the concern can be considered normal for business dealings at usual trade terms and conditions. NOTE: Site visit was conducted at the address which you have provided. Our executive has successfully traced the subject company. At the premises our executive contacted Mr. Vikram, consultant of the concern and he has provided the information. During the visit our executive has observed that it is 3 storey building and subject is situated on 1st floor of the building. Locality seems to be industrial. Area of the premises is approx. 500 sq. Meters. Name board of the subject was also sighted on given premises. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities = BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
March 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
March 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mrs. Meenu Aul |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9216806004 |
|
Date : |
24.12.2015 |
LOCATIONS
|
Registered Office : |
C-75, Phase-V, Focal Point, Ludhiana - 141010, Punjab, India |
|
Tel. No.: |
91-161-6538075 |
|
Mobile No.: |
91-9216806004 [Mrs. Meenu Aul] |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
|
|
Area : |
5500 Sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory 1 : |
C-204, Phase-V, Focal Point, Ludhiana, Punjab, India |
|
Tel. No.: |
91-161-6538104 |
|
Area : |
6500 Sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory 2 : |
89-B, Industrial Area Extension , Cheema Chowk, Ludhiana Punjab, India
|
|
Tel. No.: |
91-161-2229122 |
|
Area : |
1600 Sq. ft. |
|
Location : |
Leased |
SOLE PROPRIETOR
|
Name : |
Mrs. Meenu Aul |
|
Designation : |
Proprietor |
|
Address : |
H No. 275, Model Gram, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
22.05.1967 |
|
Qualification : |
M.A |
|
Experience : |
22 Years |
|
PAN No.: |
ACVPA2205J |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of all types of Cycle Parts
like Frame, Fork, Basket, Dress Guard, Saree Guard, Lamp Bracket, Handle,
Chain Wheel, Saddle, etc. (Confirmed by Management) |
|
|
|
|
Brand Names : |
“Appu” |
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Agencies Held : |
-- |
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Exports : |
-- |
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|
|
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Imports : |
-- |
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Terms : |
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Selling : |
Credit (90 days) |
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|
|
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Purchasing : |
Credit (60 days) |
PRODUCTION STATUS:
|
Products |
Installed Capacity |
Actual Production |
|
Frame Fork Handle Chain Wheel Saddle Basket Dress Guard Saree Guard |
5000
PCS PER DAY 5000
PCS PER DAY 15000 PCS PER DAY 6500
PCS PER DAY 7500
PCS PER DAY 12000 PCS PER DAY 6000
PCS PER DAY 6000
PCS PER DAY |
4000
PCS PER DAY 4000
PCS PER DAY 12000 PCS PER DAY 4500
PCS PER DAY 5500
PCS PER DAY 8000 PCS PER DAY 4000
PCS PER DAY 5000
PCS PER DAY |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
OEM’s · Hero Motors Limited
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No. of Employees : |
715 (In Office 65, In Factory 650) (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Bhakoo and Associates Chartered Accountants |
|
Address : |
337, /1A Dr Sham Singh Road, Ludhiana, Punjab, India |
|
Mobile No.: |
9814520636 [Mr. Hitesh Bhakoo] 9317708647 [Mr. Sahil Kochhar] |
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E-Mail : |
|
|
|
|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
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|
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Sister Concerns : |
· Appu Bicycle Planet Address: E-52 and E-41, Site B, UPSIDC Industrial Area, Surajpur, Greater Noida, Uttar Pradesh, India Activity: Manufacturing of Bicycle Parts · ADI Majestic Address: C-204, Phase VII, Focal Point, Ludhiana, Punjab, India Activity: Manufacturing of Electro Plating of Auto Parts. · Pam Tech Address: Plot No. B-Mega Industrial Park, Bihta, Patna, Bihar, India Activity: Manufacturing of Bicycle Parts. |
CAPITAL STRUCTURE
CAPITAL
ACCOUNT AS ON 31.03.2015
|
PARTICULARS |
AMOUNT IN
MILLION |
|
|
|
|
|
|
MRS. MEENU AUL |
|
|
|
Opening Balance |
|
79.359 |
|
|
|
|
|
Additions |
|
|
|
Share of Profit @ 100% |
13.375 |
|
|
Interest on Saving Account |
0.004 |
|
|
Amount Introduced |
34.310 |
|
|
Share of Income Tax refund (ABP) (AY 13-14) |
0.001 |
|
|
|
-------------- |
47.690 |
|
|
|
|
|
Less: Withdrawals |
|
|
|
Household Electricity |
0.093 |
|
|
Household Telephone Expenses |
0.001 |
|
|
LIC |
0.182 |
|
|
Income Tax (A.Y. 2014-15) |
1.646 |
|
|
Share of ABP Income Tax (A.Y. 2014-15) |
0.085 |
|
|
Amount Withdrawn |
7.078 |
|
|
Others |
0.088 |
|
|
Interest on Housing Loan |
0.819 |
|
|
Amount of Housing Loan repayment |
0.283 |
|
|
1/5th of Car Repair and maintenance |
0.049 |
|
|
1/5th of Telephone Expenses |
0.070 |
|
|
Personal use |
0.720 |
|
|
Mediclaim |
0.021 |
|
|
Amount of Interest Repaid |
5.678 |
|
|
Personal Travelling Expenses |
0.287 |
|
|
|
-------------- |
17.100 |
|
|
|
-------------- |
|
Total |
|
109.949 |
FINANCIAL DATA
[all figures are
in Rupees Million]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
109.949 |
79.359 |
60.953 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
109.949 |
79.359 |
60.953 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
99.210 |
95.936 |
91.485 |
|
|
2] Unsecured Loans |
50.212 |
3.740 |
5.502 |
|
|
TOTAL BORROWING |
149.422 |
99.676 |
96.987 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
259.371 |
179.035 |
157.940 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
83.518 |
81.898 |
84.902 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
27.801 |
17.588 |
15.693 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
142.009
|
98.505 |
83.847 |
|
|
Sundry Debtors |
179.505
|
89.371 |
70.571 |
|
|
Cash & Bank Balances |
2.115
|
3.981 |
1.796 |
|
|
Other Current Assets |
5.544
|
45.134 |
9.915 |
|
|
Loans & Advances |
3.386
|
3.074 |
35.216 |
|
Total
Current Assets |
332.559
|
240.065 |
201.345 |
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
163.141
|
150.169 |
127.444 |
|
|
Other Current Liabilities |
14.197
|
4.167 |
9.161 |
|
|
Provisions |
7.169
|
6.180 |
7.395 |
|
Total
Current Liabilities |
184.507
|
160.516 |
144.000 |
|
|
Net Current Assets |
148.052
|
79.549 |
57.345 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
259.371 |
179.035 |
157.940 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
622.526 |
653.030 |
575.489 |
|
|
|
Other Income |
21.381 |
22.848 |
29.005 |
|
|
|
TOTAL |
643.907 |
675.878 |
604.494 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
415.088 |
423.962 |
370.019 |
|
|
|
Consumable Stores |
54.003 |
63.697 |
51.964 |
|
|
|
Fuel and Electricity |
32.352 |
41.886 |
40.950 |
|
|
|
Labour Job charges |
2.831 |
3.130 |
3.331 |
|
|
|
Manufacturing Expenses |
15.231 |
16.771 |
12.248 |
|
|
|
Nickel and Chemicals |
22.407 |
19.229 |
31.788 |
|
|
|
Oil and Lubricants |
8.398 |
10.660 |
1.308 |
|
|
|
Packing |
7.314 |
7.066 |
6.454 |
|
|
|
Tools and Dies |
1.179 |
2.397 |
2.052 |
|
|
|
Wages |
25.248 |
28.724 |
30.154 |
|
|
|
Bank Interest on CC limit |
3.068 |
2.765 |
5.472 |
|
|
|
EPF |
1.240 |
1.107 |
1.232 |
|
|
|
Interest on Loans |
13.544 |
11.344 |
0.892 |
|
|
|
Leave with Wages |
1.119 |
1.107 |
1.171 |
|
|
|
Machinery Repair and Maintenance |
4.703 |
5.110 |
3.856 |
|
|
|
Misc. Expenses |
1.334 |
1.360 |
1.198 |
|
|
|
Professional Charges |
1.868 |
0.749 |
0.500 |
|
|
|
Salaries |
6.697 |
6.100 |
5.687 |
|
|
|
Other Expenses |
5.942 |
14.448 |
20.544 |
|
|
|
TOTAL |
623.566 |
661.612 |
590.820 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
20.341 |
14.266 |
13.674 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.966 |
7.315 |
7.718 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
13.375 |
6.951 |
5.956 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.15
|
1.06 |
1.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.21
|
2.16 |
2.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.09 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.36
|
1.26 |
1.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.50 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Capital Account |
60.953 |
79.359 |
109.949 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
60.953 |
79.359 |
109.949 |
|
|
|
|
|
|
Secured Loans |
91.485 |
95.936 |
99.210 |
|
Unsecured Loans |
5.502 |
3.740 |
50.212 |
|
Total
borrowings |
96.987 |
99.676 |
149.422 |
|
Debt/Equity ratio |
1.591 |
1.256 |
1.359 |
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 |
575.489 |
653.030 |
622.526 |
|
|
|
13.474 |
-4.671 |
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 |
575.489 |
653.030 |
622.526 |
|
Profit |
5.956 |
6.951 |
13.375 |
|
|
1.03% |
1.06% |
2.15% |
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 |
Yes |
|
5 |
Buyer visit details |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
------------------------------------------------------------------------------------------------------------------------------
OBSERVATION POINTS
|
Name of Company : |
APPU INTERNATIONAL |
|
|
|
|
Address: |
C-75, Phase-V, Focal Point, Ludhiana - 141010, Punjab |
|
Contact No.: |
91-161-6538104 |
|
|
|
|
Date of Visit: |
23.12.2015 |
|
|
|
|
Person to whom we met : |
Mr. Vikram (Consultant) |
|
|
|
|
Name Board: |
Sighted |
|
|
|
|
Location: |
-- |
|
|
|
|
Landmark (if any): |
-- |
|
|
|
|
Total floors of the building : |
3 Floors |
|
|
|
|
Subject situated on : |
1st Floor |
|
|
|
|
Locality: |
Industrial |
|
|
|
|
Area of Premises: |
500 Sq. Mtrs. |
|
|
|
|
Area: |
Neutral |
|
|
|
|
Visibility of Items: |
Telephone: Yes Fax Machine: No Telex: No Computers: Yes Air Conditioner: Yes Office Equipment: Yes Xerox Machine: No |
|
|
|
|
No. of Employees seen at Business Premises: |
-- |
|
|
|
|
Furniture Items Sighted: |
No |
|
|
|
|
Proof of Visit: |
Photograph |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
(RS.
IN MILLION)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
Abhay Aul |
0.306 |
0.306 |
|
Anil Jagota and Sons HUF |
0.146 |
0.146 |
|
Appu Bicycle Planet |
47.085 |
0.257 |
|
Appu Exim Private Limited |
1.150 |
1.150 |
|
Deepak Kumar and Sons HUF |
0.145 |
0.145 |
|
Geeta Arora |
0.199 |
0.198 |
|
HDFC Bank Limited Business Loan |
0.000 |
0.357 |
|
Padam Kumar Aul and Sons HUF |
0.004 |
0.004 |
|
Rakhi Khanna |
0.212 |
0.212 |
|
Savita Jagota |
0.205 |
0.205 |
|
Virinder Aul and Sons HUF |
0.760 |
0.760 |
|
|
|
|
|
Total |
50.212 |
3.740 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Air Compressor
· Air Conditioner
· Building
· Camera
· Vehicles
· Computer
· Cooler
· Electrical Fittings
· Furniture and Fixture
· Generator
· Printer
· Office 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. 66.20 |
|
|
1 |
Rs. 98.30 |
|
Euro |
1 |
Rs. 72.41 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
48 |
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.