MIRA INFORM REPORT
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Report No. : |
308312 |
|
Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEWTRACK COMPUTERS PRIVATE LIMITED |
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Registered
Office : |
B-5, Ashatavinayaka Apartment, Ashok Stambha, Nasik-422013,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.08.2001 |
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Com. Reg. No.: |
11-133006 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.000 Million |
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CIN No.: [Company Identification
No.] |
U72900MH2001PTC133006 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Dealer and Repairing Services of Computer and Laptop. |
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No. of Employees
: |
20 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 42000 |
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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 satisfactory track record. Trade relations are fair. Business is active. Payment terms are reported
as usually correct. The company can be considered for business dealings at usual trade
terms and conditions. Note : The financial figures for FY2012-2013, with reference to provision for
taxation (Directors report) and profitability mentioned in the reserves and
surplus schedule (financial statements) seem to be erroneously reported in
the 10th as well 11th annual report of the company
which couldn’t be rectified as Mr. Magan, the director denied to provide any
clarification about the same. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Magan Govind Gangani |
|
Designation : |
Director |
|
Contact No.: |
91-9823070112 |
|
Date : |
16.02.2015 |
LOCATIONS
|
Registered Office : |
B-5, Ashatavinayaka Apartment, Ashok Stambha, Nasik-422013,
Maharashtra, India |
|
Tel. No.: |
91-253-2578135 / |
|
Mobile No.: |
91-9823070112 [Mr. Magan Govind Gangani] |
|
Fax No.: |
91-253-2578135 |
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E-Mail : |
DIRECTORS
AS ON 07.07.2014
|
Name : |
Mr. Magan Govind Gangani |
|
Designation : |
Director |
|
Address : |
Plot No. 66, Raghukul Bunglow, Makhmalabad Road, Panchvati,
Nashik-422003, Maharashtra, India |
|
Date of Birth/Age : |
02.01.1968 |
|
Date of Appointment : |
19.08.2001 |
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Din No.: |
00693064 |
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|
|
|
Name : |
Mr. Lalji Govind Gangani |
|
Designation : |
Director |
|
Address : |
B-5, Ashatavinayaka Apartment, Ashok Stambha, Gangapur Road,
Nasik-422002, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1971 |
|
Date of Appointment : |
19.08.2001 |
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Din No.: |
00693079 |
|
|
|
|
Name : |
Mr. Mahesh Govind Gangani |
|
Designation : |
Director |
|
Address : |
Plot No. 66, Raghukul Bunglow, Makhmalabad Road, Panchvati,
Nashik-422003, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1979 |
|
Date of Appointment : |
19.08.2001 |
|
Din No.: |
00693096 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 07.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Magan Govind Gangani |
|
29780 |
|
Lalji Govind Gangani |
|
29780 |
|
Mahesh Govind Gangani |
|
29780 |
|
Daksha Magan Gangani |
|
3510 |
|
Kirti Lalji Gangani |
|
3500 |
|
Daksha Mahesh Gangani |
|
3650 |
|
|
|
|
|
TOTAL
|
|
100000 |
AS ON 07.07.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Dealer and Repairing Services of Computer and Laptop. |
|
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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 : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Retailers, End Users and OEMs |
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No. of Employees
: |
20 [Approximately] |
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Bankers : |
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Facilities : |
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Banking Relations : |
-- |
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Auditors : |
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Name : |
S.T. Karwa and Company Chartered Accountants |
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Address : |
340, Laxminarayan Market, Hiralal Lane, Nashik-422001, Maharashtra,
India |
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Tel. No.: |
91-253-2576643 |
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Mobile No.: |
91-9822077543 |
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E-Mail : |
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PAN No: |
ABBPK7676C |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
1.000 |
1.000 |
0.522 |
|
(b) Reserves &
Surplus |
13.649 |
12.383 |
10.994 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
14.649 |
13.383 |
11.516 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4.366 |
4.934 |
3.971 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
4.366 |
4.934 |
3.971 |
|
|
|
|
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|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8.454 |
7.933 |
0.000 |
|
(b) Trade payables |
43.688 |
34.644 |
37.365 |
|
(c) Other current
liabilities |
0.662 |
0.672 |
1.280 |
|
(d) Short-term provisions |
0.800 |
0.696 |
0.686 |
|
Total Current Liabilities
(4) |
53.604 |
43.945 |
39.331 |
|
|
|
|
|
|
TOTAL |
72.619 |
62.262 |
54.818 |
|
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II.
ASSETS |
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|
(1) Non-current assets |
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|
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(a) Fixed Assets |
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|
|
|
(i) Tangible assets |
0.991 |
1.290 |
1.530 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets
(net) |
0.151 |
0.138 |
0.110 |
|
(d) Long-term Loan and Advances |
0.003 |
0.068 |
0.143 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1.170 |
1.521 |
1.808 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
23.285 |
19.570 |
14.122 |
|
(c) Trade receivables |
42.039 |
37.577 |
35.407 |
|
(d) Cash and cash
equivalents |
5.922 |
3.157 |
2.750 |
|
(e) Short-term loans and
advances |
0.203 |
0.437 |
0.731 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
71.449 |
60.741 |
53.010 |
|
|
|
|
|
|
TOTAL |
72.619 |
62.262 |
54.818 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
395.877 |
384.219 |
334.305 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2.703 |
2.445 |
2.520 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
0.298 |
0.388 |
0.482 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2.405 |
2.057 |
2.038 |
|
|
|
|
|
|
|
|
TAX |
0.800 |
0.668 |
0.632 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.266 |
1.389 |
1.406 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
12.66 |
13.89 |
26.96 |
Expected Sales ( 2014-2015 ) : Rs.400.000 Millions
The above information has been parted by Mr. Magan Govind Gangani.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
0.29 |
0.36 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.32 |
3.31 |
3.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.15 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.88 |
0.96 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.38 |
1.35 |
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 |
0.522 |
1.000 |
1.000 |
|
Reserves & Surplus |
10.994 |
12.383 |
13.649 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
11.516 |
13.383 |
14.649 |
|
|
|
|
|
|
long-term borrowings |
3.971 |
4.934 |
4.366 |
|
Short term borrowings |
0.000 |
7.933 |
8.454 |
|
Total borrowings |
3.971 |
12.867 |
12.820 |
|
Debt/Equity ratio |
0.345 |
0.961 |
0.875 |
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 |
334.305 |
384.219 |
395.877 |
|
|
|
14.931 |
3.034 |
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 |
334.305 |
384.219 |
395.877 |
|
Profit |
1.406 |
1.389 |
1.139 |
|
|
0.42% |
0.36% |
0.29% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Other Long Term Loans |
|
|
|
From
Directors |
|
|
|
Magan Govind
Gangani |
1.622 |
1.422 |
|
Lalji Govind Gangani |
0.623 |
1.674 |
|
Mahesh Gangani |
1.401 |
1.208 |
|
From Shareholders |
|
|
|
From Director's Relatives |
|
|
|
Daksha Magan Gangani |
0.245 |
0.245 |
|
Daksha Magan Gangani |
0.100 |
0.000 |
|
Kirti Lalji Gangani |
0.375 |
0.275 |
|
Deferred
Payment Liabilities |
0.000 |
0.000 |
|
Deposits |
0.000 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loans
Repayable on Demand |
|
|
|
From related parties |
0.000 |
0.000 |
|
From Shareholders |
0.000 |
0.000 |
|
From Director's
Relatives |
0.000 |
0.000 |
|
|
|
|
|
Total |
4.366 |
4.824 |
FUTURE PLANS:
Providing quality services to the customers has become essence of the business policy. They are concentrating on recovery of the overdue balances in Debtors.
OPERATIONAL &
FINANCIAL HIGHLIGHTS :
|
Type of Sale /
Financial Year |
2013-14 |
2012-13 |
Increase/(Decrease) |
Diff% |
|
Trading Sales ( Rupees in Millions ) |
395.377 |
384.219 |
16.658 |
3.03 |
Index of charges
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10385238 |
15/07/2014 * |
20,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH,SHINGADA TALAO, NASHIK, NASHIK, Mahara |
C13368691 |
|
2 |
10385239 |
15/07/2014 * |
20,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, SHINGADA TALAO, NASHIK, NASHIK, Mahar |
C13373394 |
* Date of charge modification
FIXED ASSETS:
- Leasehold
Land
- Freehold Land
- Freehold
Buildings
- Leasehold
Buildings
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
- Computer
- Office
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 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.62.23 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
PAT |
|
|
|
|
Analysis done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.