MIRA INFORM REPORT
|
Report No. : |
357607 |
|
Report Date : |
31.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GREAT WHITE GLOBAL PRIVATE LIMITED (w.e.f. 04.07.2013) |
|
|
|
|
Formerly Known
As : |
GREAT
WHITE ELECTRICALS PRIVATE LIMITED (w.e.f
07.12.2010) METRO
ELECTRICALS PRIVATE LIMITED |
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|
|
Registered
Office : |
1301, 13th Floor, Peninsula Business Park, Tower B, G.K. Marg, Off
Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-30036565 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.05.1994 |
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Com. Reg. No.: |
11-078604 |
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Capital
Investment / Paid-up Capital : |
Rs. 80.844 Million |
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|
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CIN No.: [Company Identification
No.] |
U31200MH1994PTC078604 |
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IEC No.: |
0300033451 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACM3669G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing and marketing of electricals
goods and accessories, wires and cables. (Registered Activity) |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1994 and it is engaged in the
business of manufacturing and marketing of electricals goods and accessories,
wires and cables. It is an established company having moderate track. As per Registrar of Companies, the date of balance sheet (i.e.
financial field) is shown as 31.03.2015 but the documents related to the
financials are not available from any source. Further, 2014 financials are also not available. However, as per 2013 financial, the company has reported low profit
margin of 0.83% and external borrowings also seems to be huge. Furthermore, as per our source and investigation, we found that the
company has reported total operating income of Rs. 2299.000 million and net
profit of Rs. 40.800 million during the year 2014. Moreover, rating derives strength from the experience and
resourcefulness of the promoters – with a successful track record in this
industry, increase in scale of operations marked by growth in sales and
profits. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. In view of absence of latest financial information, the company can be
considered for business dealings with some caution. Note: Partial financial information is taken from indirect source i.e. CARE
rating. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities (BBB-) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
April 09, 2015 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Bank Facilities (A3) |
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Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
April 09, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Hiten |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-30036565 |
|
Date : |
30.121.2015 |
LOCATIONS
|
Registered Office : |
1301, 13th Floor, Peninsula Business Park, Tower B, G.K. Marg, Off Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-30036565 |
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Fax No.: |
91-22-30036564 |
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E-Mail : |
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Website : |
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Manufacturing
Facility 1: |
Khasra No. 58, 59, 60, 62, 64, 65, Village : Padartha, District : Haridwar, Haridwar – 249404, Uttarakhand, India |
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Manufacturing
Facility 2: |
Survey No. 36/1, 32/2/PI, 35/2, 38/PI and 39, N. H. Road No. 8, Village : Gundlav, Valsad – 396035, Gujarat, India |
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Branch Office 1 : |
627, Pulachi wadi, 2nd Floor, Nirmitee Heights, Near Z Bridge, Next to Kohinoor Techinical Institute, Deccan Gymkhana, Pune – 411004, Maharashtra, India |
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Branch Office 2 : |
423, Ganpati Plaza, MI Road, Jaipur – 302001, Rajasthan, India |
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Branch Office 3 : |
1101 - 03, 11th Floor, New Delhi – 110001, India |
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Depo: |
Bhiwandi, Thane, Maharashtra, India |
DIRECTORS
As on: 31.03.2015
|
Name : |
Mehul Jadavji Shah |
|
Designation : |
Director |
|
Address : |
25/2 Mont Blanc, Dadi Seth Hill, August Kranti Marg, Mumbai – 400036, Maharashtra, India |
|
Date of Appointment : |
20.12.2010 |
|
Date of Birth/Age : |
05.05.1971 |
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PAN: |
AAJPS1654H |
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DIN No.: |
00933528 |
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Name : |
Jadavji Lalji Shah |
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Designation : |
Director |
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Address : |
Flat No 6, 11th Floor, Suraj Apartment, Bhulabhai Desai Road, Breach Candy, Mumbai -400026, Maharashtra, India |
|
Date of Birth/Age : |
09.05.1939 |
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PAN: |
AAJPS8386E |
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Date of Appointment : |
20.12.2010 |
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DIN No.: |
00934586 |
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|
|
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Name : |
Hemang Jadavji Shah |
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Designation : |
Director |
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Address : |
Flat No 6, 11th Floor, Suraj Apartment, Bhulabhai Desai Road, Breach Candy, Mumbai -400026, Maharashtra, India |
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Date of Birth/Age : |
23.02.1975 |
|
Date of Appointment : |
15.04.2011 |
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PAN |
AAJPS1655G |
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DIN No.: |
00298012 |
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|
|
|
Name : |
Vipul Popatlal Chheda |
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Designation : |
Director |
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Address : |
B-1, Nikunj Dwarshantilal Modi Marg, Kandivali, Mumbai – 400067,
Maharashtra, India |
|
Date of Birth/Age : |
24.09.1967 |
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Date of Appointment : |
02.01.2007 |
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DIN No.: |
00297838 |
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|
|
|
Name : |
Girish Manilal Boradia |
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Designation : |
Director |
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Address : |
Flat No.19, 5th Floor, New Paradise, Liberty Garden Road, No.3, Malad (WEST), Mumbai-400064, Maharashtra, India |
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Date of Birth/Age : |
21.02.1966 |
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Date of Appointment : |
22.01.2014 |
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DIN No.: |
00476124 |
KEY EXECUTIVES
|
Name : |
Mr. Hiten |
|
Designation : |
Finance Manager |
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|
|
|
Name : |
D. Kothari and Associates |
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Designation : |
Company Secretaries |
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Address : |
701, EMP – 09, Evershine Millennium Paradise, Thakur Village, Kandivali
(East), Mumbai – 400101, Maharashtra, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of
Shareholders |
|
No. of Shares |
|
|
1300200 |
|
|
200 |
|
|
816800 |
|
|
916800 |
|
|
1016800 |
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|
1016800 |
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|
1016800 |
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|
500000 |
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|
500000 |
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|
1000000 |
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|
Total |
|
8084400 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and marketing of
electricals goods and accessories, wires and cables. (Registered
Activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
A C Modi and Associates Chartered Accountants |
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Address : |
6, Ruxmani Niwas Daftary Road,Opp.Ajanta Hotel Malad (East), Mumbai 400097, Maharashtra, India |
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Tel No.: |
91-22-28888790 |
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PAN No.: |
AALPM3688H |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on: 30.09.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,084,400 |
Equity Shares |
Rs.10/- each |
Rs.80.844
Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
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|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
80.844 |
0.844 |
0.844 |
|
(b) Reserves &
Surplus |
128.161 |
117.758 |
160.350 |
|
(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) |
209.005 |
118.602 |
161.194 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
374.722 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
23.393 |
15.618 |
0.430 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
398.115 |
15.618 |
0.430 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1151.218 |
743.731 |
198.328 |
|
(b) Trade payables |
186.404 |
46.490 |
20.119 |
|
(c) Other current
liabilities |
222.312 |
57.106 |
3.067 |
|
(d) Short-term provisions |
0.063 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
1559.997 |
847.327 |
221.514 |
|
|
|
|
|
|
TOTAL |
2167.117 |
981.547 |
383.138 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
770.724 |
356.847 |
238.776 |
|
(ii) Intangible Assets |
0.685 |
1.028 |
0.879 |
|
(iii) Capital
work-in-progress |
255.347 |
207.939 |
24.758 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
2.260 |
|
(b) Non-current Investments |
1.190 |
4.554 |
1.330 |
|
(c) Deferred tax assets
(net) |
6.021 |
6.021 |
9.039 |
|
(d) Long-term Loan and Advances |
72.039 |
54.627 |
54.290 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1106.006 |
631.016 |
331.332 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
271.695 |
156.812 |
8.196 |
|
(c) Trade receivables |
662.184 |
112.897 |
0.190 |
|
(d) Cash and cash
equivalents |
41.153 |
5.174 |
4.018 |
|
(e) Short-term loans and
advances |
86.079 |
75.648 |
39.402 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1061.111 |
350.531 |
51.806 |
|
|
|
|
|
|
TOTAL |
2167.117 |
981.547 |
383.138 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1248.621 |
137.379 |
0.559 |
|
|
Other Income |
1.482 |
2.311 |
1.645 |
|
|
TOTAL (A) |
1250.103 |
139.690 |
2.204 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
121.128 |
0.497 |
|
|
Purchases of
Stock-in-Trade |
|
17.624 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(62.263) |
(0.001) |
|
|
Employees benefits
expense |
|
28.907 |
7.916 |
|
|
Other expenses |
50.906 |
6.586 |
|
|
|
TOTAL (B) |
1156.335 |
156.302 |
14.998 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
93.768 |
(16.612) |
(12.794) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
28.392 |
5.337 |
8.933 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
65.376 |
(21.949) |
(21.727) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.904 |
17.653 |
6.944 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
10.472 |
(39.602) |
(28.671) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.069 |
2.990 |
(8.790) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
10.403 |
(42.592) |
(19.881) |
|
|
|
|
|
|
|
|
IMPORTS
CIF |
|
|
|
|
|
Capital Goods |
NA |
41.082 |
2.147 |
|
|
TOTAL
IMPORT |
NA |
41.082 |
2.147 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.28 |
(504.64) |
(235.56) |
|
Particulars |
|
31.03.2015 |
31.03.2014 |
|
Sales turnover (Approximately) |
|
3680.000 |
2299.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
NA |
40.800 |
The above information has been parted by Mr. Hiten (Finance Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
10.172 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.83 |
(31.00) |
(3556.53) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.51 |
(12.09) |
(2288.73) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.55 |
(5.19) |
(8.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
(0.33) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.35 |
6.27 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68 |
0.41 |
0.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.844 |
0.844 |
80.844 |
|
Reserves & Surplus |
160.350 |
117.758 |
128.161 |
|
Net worth |
161.194 |
118.602 |
209.005 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
374.722 |
|
Short term borrowings |
198.328 |
743.731 |
1151.218 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
10.172 |
|
Total borrowings |
198.328 |
743.731 |
1536.112 |
|
Debt/Equity ratio |
1.230 |
6.271 |
7.350 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
0.559 |
137.379 |
1248.621 |
|
|
|
24,475.850 |
808.888 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
0.559 |
137.379 |
1248.621 |
|
Profit/Loss |
(19.881) |
(42.592) |
10.403 |
|
|
(3556.53%) |
(31.00%) |
0.83% |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PERFORMANCE
During the year, the Company has achieved turnover of Rs. 1248.621 Million against turnover of Rs.137.379 Million in the previous year, a quantum jump of over 800 % in view of the effect of the full-fledged operations in the financial year under report. The net profit of the Company for the year under report was Rs. 10.403 Million against net loss of Rs.42.592 Million in the previous year.
CHANGE IN THE NAME OF
THE COMPANY
As approved by the shareholders by passing Special Resolution under Section 21 and other applicable provisions of the Companies Act, 1956 the name of the Company has been changed from GREAT WHITE ELECTRICALS PRIVATE LIMITED to GREAT WHITE GLOBAL PRIVATE LIMITED with effect from 4th July,2013 as per the Fresh Certificate Of Incorporation Consequent Upon Change of Name issued by Government of India-Ministry of Corporate Affairs, Registrar of Companies, Mumbai.
COMPANIES OVERVIEW
The company is a private limited company incorporated under the provisions of the companies Act, 1956 vide CIN: U31200MH1994PTC078604.
The company is engaged in the business of Manufacturing and Marketing of Electricals goods and accessories, Wires and cables.
NOTE:
The registered office of the company has been shifted from C-101, Innova Marathon Nextgen Off G,K Marg, Opp- Peninsula Corporate Park, Lower Parel (West), Mumbai – 400013, Maharashtra, India to the present address w.e.f. 10.12.2013.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from others |
1053.380 |
653.157 |
|
Intercorporate deposits |
97.838 |
90.574 |
|
Total |
1151.218 |
743.731 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10606768 |
10/12/2015 |
65,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, Gujarat, INDIA |
C72606254 |
|
2 |
10509345 |
25/06/2014 |
160,000,000.00 |
Bank of India |
Andheri Mid
Corporate Branch, 28, MDI. Building, |
C11536141 |
|
3 |
10422256 |
25/06/2014 * |
1,129,900,000.00 |
Bank of India |
Andheri Mid
Corporate Branch, 28, MDI. Building, |
C11535853 |
|
4 |
10381171 |
12/10/2012 |
180,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, Gujarat, INDIA |
B59942839 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Office Equipment
- Electrical Fittings
- Furniture and Fixture
- Computers
- Vehicles
- Speed Boats
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No
press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.98.55 |
|
Euro |
1 |
Rs.72.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
29 |
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.