MIRA INFORM REPORT
|
Report No. : |
306757 |
|
Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAAJRATNA METAL INDUSTRIES LIMITED (w.e.f.25.10.1994) |
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Formerly Known
As : |
RAAJRATNA CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
909, Sakar III, Near Income Tax Circle, Navrangpura, Ahmedabad -
380014, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.05.1988 |
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Com. Reg. No.: |
04-010673 |
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Capital
Investment / Paid-up Capital : |
Rs.83.622 Millions |
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CIN No.: [Company Identification
No.] |
U24231GJ1988PLC010673 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACR9980M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Stainless Steel Wires and Bright Bars. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track.
Profitability of the company is sound. General financials of the company
appears to be decent. Trade relation are reported as fair. Business is active. Payments are
reported to be usually correct. 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating=BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
12.11.2014 |
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Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
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|
Date |
12.11.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Harshil |
|
Designation : |
Account Executive |
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Contact No.: |
91-22-24938675 |
|
Date : |
05.02.2015 |
LOCATIONS
|
Registered / Corporate Office/ Factory 1 : |
909, Sakar III, Near Income Tax Circle, Navrangpura, Ahmedabad -
380014, Gujarat, India |
|
Tel. No.: |
91-79-27543681/ 82/ 83/ 84 |
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Fax No.: |
91-79-27543085/ 26568085 |
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E-Mail : |
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Website : |
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Area : |
4000 sq. ft. |
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Location : |
Owned |
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Factory 2 : |
Bileshwarpura, Ahmedabad - Mehsana Highway, Taluka Kalol, District Gandhinagar, Gujarat, India |
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Tel. No.: |
91-27642-33664/ 5 |
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Fax No.: |
91-27642-33663 |
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Location : |
Owned |
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Branch Office 1 : |
126, Mittal Court, A Wing, Nariman Point, Mumbai - 400021,
Maharashtra, India |
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Tel. No.: |
91-22-22829342/ 44/ 45/ 46 |
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Fax No.: |
91-22-22829343 |
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E-Mail : |
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Branch Office 2
: |
Shop No. 7, Anup Estate, Sector 10-A, Main Road, Gurgaon - 122001,
Haryana, India |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Arvindkumar Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
15, Shanti Niketan Society, Opposite Gujarat College Road, Ellis Bridge, Ahmedabad – 380007, Gujarat, India |
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Date of Birth/Age : |
01.01.1956 |
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Date of Appointment : |
01.04.2007 |
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PAN No.: |
AACPS9853K |
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DIN No.: |
00435340 |
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Name : |
Mr. Babulal Dalichand Sanghvi |
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Designation : |
Managing Director |
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Address : |
Sanghvi Mansion, 17 Lakdawala Building, 5th Khtwadi Lane, Mumbai - 400004, Maharashtra, India |
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Date of Birth/Age : |
08.10.1951 |
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Date of Appointment : |
01.04.2007 |
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PAN No.: |
AACPS4439D |
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DIN No.: |
00601159 |
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Name : |
Mr. Tarachand Dalichand Sanghvi |
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Designation : |
Whole-time Director |
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Address : |
43, Highway Park Society, Rambaug Road, Sabarmati, Ahmedabad – 380005, Gujarat, India |
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Date of Birth/Age : |
18.07.1947 |
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Date of Appointment : |
01.04.2007 |
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PAN No.: |
ACIPS6387C |
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DIN No.: |
00601195 |
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Name : |
Mr. Naresh Babulal Sanghvi |
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Designation : |
Whole-time Director |
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Address : |
15, Shantiniketan Society, Near Gujarat College Road, Ellis Bridge, Ahmedabad – 380006, Gujarat, India |
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Date of Birth/Age : |
13.06.1973 |
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Date of Appointment : |
01.04.2007 |
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PAN No.: |
AACPS4438C |
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DIN No.: |
00601322 |
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Name : |
Mr. Ashimkumar Rakhalraj Banerjee |
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Designation : |
Whole-time Director |
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Address : |
Evershine Apartment II, J. P. Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
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Date of Birth/Age : |
04.09.1949 |
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Qualification: |
B.E |
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Date of Appointment : |
01.04.2007 |
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PAN No.: |
AAUPB9079Q |
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DIN No.: |
02010493 |
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Name : |
Mr. Manish Babulal Sanghvi |
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Designation : |
Whole-time Director |
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Address : |
17, Sanghvi Mansion, Lakdawala Building, 1st Floor, Khetwadi, 5th Lane, Mumbai – 400004, Maharashtra, India |
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Date of Birth/Age : |
23.05.1980 |
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Qualification: |
B. Com |
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Date of Appointment : |
18.05.2010 |
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PAN No.: |
AACPS6102P |
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DIN No.: |
03089574 |
KEY EXECUTIVES
|
Name : |
Mr. Harshil |
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Designation : |
Account Executive |
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Name : |
Mr. Purvashi D. Adhvaryu |
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Designation : |
Company Secretary |
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Address : |
20, Avantika Park, Raw House, Behind Sun-N-Step Club, Memnagar,
Ahmedabad - 380061, Gujarat, India |
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Date of Birth/Age : |
08.02.1977 |
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Date of Appointment : |
01.09.2011 |
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PAN No.: |
AFRPA1633B |
MAJOR SHAREHOLDERS
AS ON 27.09.2014
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2014
|
Category |
Percentage |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Stainless Steel Wires and Bright Bars. |
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Products : |
·
Stainless Steel and Nickel Alloy Wires ·
Stainless Steel and Nickel Alloy Spring Wires ·
Stainless Steel Cold heading Wires ·
Stainless Steel Bright bars ·
Stainless Steel Profile Wires ·
Stainless Steel Reinforcement Bar |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Stainless Still Wires |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit (30 / 60 / 90 Days) |
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Purchasing : |
Cash, Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users, OEMs
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
· State Bank of India, Overseas Branch, Navgivan, Ahmedabad, Gujarat, India · IDBI Bank Limited, IDBI Complex, Near Lal Bunglow, Off C. G. Road, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name 1 : |
Shah Kantilal and Company Chartered Accountants |
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Address : |
804, Mauryansh, Elanza, Near Parekhs Hospital, Shyamal
Cross Road, Satellite, Ahmedabad, Gujarat, India |
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PAN No.: |
AACFM6805H |
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Name 2 : |
Mehta Lodha and Company Chartered Accountants |
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Address : |
804, Sarap Building, Opposite Navjivan Press, Off Ashram Road,
Ahmedabad – 380014, Gujarat, India |
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PAN No.: |
AAMFS3865K |
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Membership : |
-- |
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Associates: |
· Raajratna Electrodes Private Limited, India [U29308GJ1991PTC016444] · Raajratna Stockholding Private Limited, India [U65990GJ1992PTC018491] · Raajratna Ventures Limited, India [U27209GJ2004PLC044288] · Real Strips Limited, India [L27100GJ1990PLC014383] · Concept Infoway Private Limited, India [U72900GJ2000PTC037745] · Unical Chemicals India Private Limited, India [U24100GJ2010PTC060200] |
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Subsidiary company: |
· Stainless Wire Limited · Raajratna Stainless Wire (USA) Inc. · Erre Inox S. P. A · PT. Raajratna Wire |
CAPITAL STRUCTURE
AS ON 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8362166 |
Equity Shares |
Rs.10/- each |
Rs.83.622 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
83.622 |
83.622 |
83.622 |
|
(b) Reserves & Surplus |
1795.619 |
1395.227 |
1198.387 |
|
(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) |
1879.241 |
1478.849 |
1282.009 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
20.198 |
103.096 |
364.423 |
|
(b) Deferred tax liabilities (Net) |
165.805 |
159.063 |
169.019 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
23.180 |
20.050 |
16.817 |
|
Total Non-current
Liabilities (3) |
209.183 |
282.209 |
550.259 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2508.946 |
2263.120 |
2469.136 |
|
(b) Trade
payables |
246.009 |
339.817 |
490.391 |
|
(c) Other
current liabilities |
106.164 |
267.863 |
133.582 |
|
(d) Short-term
provisions |
212.210 |
153.018 |
113.246 |
|
Total Current Liabilities
(4) |
3073.329 |
3023.818 |
3206.355 |
|
|
|
|
|
|
TOTAL |
5161.753 |
4784.876 |
5038.623 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1243.573 |
1296.477 |
1345.345 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
16.754 |
12.915 |
19.710 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
174.331 |
87.992 |
48.645 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
22.478 |
14.842 |
15.264 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1457.136 |
1412.226 |
1428.964 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1049.288 |
780.794 |
970.540 |
|
(c) Trade
receivables |
2056.621 |
1984.339 |
2008.191 |
|
(d) Cash
and cash equivalents |
18.792 |
13.414 |
38.630 |
|
(e)
Short-term loans and advances |
579.916 |
594.103 |
592.298 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3704.617 |
3372.650 |
3609.659 |
|
|
|
|
|
|
TOTAL |
5161.753 |
4784.876 |
5038.623 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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SALES |
|
|
|
||
|
|
|
Income |
5796.867 |
6202.430 |
6012.575 |
|
|
|
|
Other Income |
28.939 |
8.981 |
11.340 |
|
|
|
|
TOTAL (A) |
5825.806 |
6211.411 |
6023.915 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
3919.702 |
4503.015 |
4760.890 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(65.003) |
27.592 |
(57.061) |
|
|
|
|
Employee Benefits Expenses |
194.733 |
179.119 |
150.194 |
|
|
|
|
Other Expenses |
866.854 |
834.652 |
727.246 |
|
|
|
|
Prior Period Expenses |
(0.717) |
2.467 |
0.598 |
|
|
|
|
TOTAL (B) |
4915.569 |
5546.845 |
5581.867 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
910.237 |
664.566 |
442.048 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
142.640 |
188.182 |
218.198 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
767.597 |
476.384 |
223.850 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
158.464 |
155.204 |
141.896 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
609.133 |
321.180 |
81.954 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
208.742 |
100.043 |
25.520 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
400.391 |
221.137 |
56.434 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1095.227 |
948.387 |
936.249 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
20.000 |
|
|
|
|
Proposed Dividend |
0.000 |
0.000 |
20.905 |
|
|
|
|
Corporate
Dividend Tax |
0.000 |
3.392 |
3.391 |
|
|
|
|
Interim Dividend |
0.000 |
20.905 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
1445.618 |
1095.227 |
948.387 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY ON FOB |
3979.834 |
4056.403 |
4310.971 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
1148.952 |
1231.315 |
2082.507 |
|
|
|
|
Components and Spare Parts |
63.522 |
66.921 |
88.139 |
|
|
|
|
Capital Goods |
22.288 |
32.851 |
71.848 |
|
|
|
TOTAL IMPORTS |
1234.762 |
1331.087 |
2242.494 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
47.88 |
26.44 |
6.75 |
||
Expected Sales (2014-2015): Rs.6500.000 Millions
The above information has been parted by Mr. Harshil (Account Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
6.91 |
3.57 |
0.94 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.70 |
10.71 |
7.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.25 |
6.86 |
1.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.22 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.35 |
1.60 |
2.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.12 |
1.13 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
83.622 |
83.622 |
83.622 |
|
Reserves & Surplus |
1198.387 |
1395.227 |
1795.619 |
|
Net
worth |
1282.009 |
1478.849 |
1879.241 |
|
|
|
|
|
|
long-term borrowings |
364.423 |
103.096 |
20.198 |
|
Short term borrowings |
2469.136 |
2263.120 |
2508.946 |
|
Total
borrowings |
2833.559 |
2366.216 |
2529.144 |
|
Debt/Equity
ratio |
2.210 |
1.600 |
1.346 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
6012.575 |
6202.430 |
5796.867 |
|
|
|
3.158 |
(6.539) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
6012.575 |
6202.430 |
5796.867 |
|
Profit |
56.434 |
221.137 |
400.391 |
|
|
0.94% |
3.57% |
6.91% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
63.453 |
223.254 |
129.153 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS
AND FUTURE PROSPECTS
Subject has performed satisfactorily during the year under consideration; Net Sales has gone up to Rs.6122.300 Millions against Rs.5950.400 Millions compared to previous year & Net profit after tax increase to Rs.221.100 Millions against Rs.56.400 Millions compared to previous year. The Net sales increased by 2.89 % during the current year as compared with previous year in value terms and the sales in quantity is slightly decrease by 0.42%, as compared with previous year.
FUTURE
PROSPECTS
The Directors of subject is focusing on developing the new markets in South American Countries, Japan, Korea and Thailand. Further they are developing the High Nickel Alloy Wires for oil and Gas Industries. Subject is also planning to enter in to Power Trading through Power Exchange of India Ltd. (PXIL) to get the advantage of demand and supply of power, to minimize the Power Cost. Therefore, subject will have edge over them competitors. They will have the benefit of latest Technology used by the Subject.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Intercorporate
borrowings |
0.000 |
0.226 |
|
|
|
|
|
Total |
0.000 |
0.226 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10530302 |
08/10/2014 |
100,000,000.00 |
Yes Bank Limited |
9th Floor, Discovery of India, Dr. A.B. Road, Worli, Mumbai, Maharashtra - 400018, India |
C33007105 |
|
2 |
90098705 |
20/07/2013 * |
3,900,000,000.00 |
Bank of Baroda |
Ashram Road Branch, Vallabh Sadan, Opp. Natraj Cinema, Ahmedabad, Gujarat - 380009, India |
B80544554 |
|
3 |
90098129 |
26/12/1996 * |
41,000,000.00 |
The Industrial Credit & Investment Corporation of India |
163; Backbay Reclamation, Bombay, Maharashtra - 400020, India |
- |
*Date of modification Charges
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer 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.61.87 |
|
|
1 |
Rs.94.07 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
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 |
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 |
|
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.