MIRA
INFORM REPORT
|
Report No. : |
308613 |
|
Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BRINTONS CARPETS ASIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 414/ 415/ 416, Village Urwade, Taluka Mulshi, District Pune –
412108, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.10.1997 |
|
|
|
|
Com. Reg. No.: |
11-014590 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.340.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17226PN1997PTC014590 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB02333C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB7059H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Machine made Axminster
Woven Carpets and Spun Yarn. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Brintons Carpets Limited, United Kingdom”.
It is a well-established company having fine track record. Sales turnover of the company has declined which has resulted into dip
in profit of the company during financial year 2014. However, the rating takes into consideration company’s healthy
financial risk profile supported by favorable capital structure and financial
as well as managerial support that company receives from its parent company. Trade relations are reported as fair. Business is active. Payment are
reported to be regular and as per commitments. In view of strong holding support, the company can be considered good for
normal 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.
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 |
CARE |
|
Rating |
Long Term Bank Facilities=A- |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
|
Date |
03.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
03.04.2014 |
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. Sachin Pawar |
|
Designation : |
Account Manager |
|
Contact No.: |
91-8605013398 |
|
Date : |
19.02.2015 |
LOCATIONS
|
Registered / Corporate Office / Factory : |
Plot No. 414/ 415/ 416, Village Urwade, Taluka Mulshi, District Pune -
412108, Maharashtra, India |
|
Tel. No. : |
91-20-66758220/22929208/229292216/65101398 |
|
Mobile No.: |
91-8605013398 [Mr. Sachin Pawar] |
|
Fax No.: |
91-20-22929233/ 24101396/66758233 |
|
Email : |
|
|
Website : |
|
|
Area: |
24 Acres |
|
Location : |
Owned |
|
|
|
|
Sales Office : |
Luhia Jain, IT Park, Kothrud, Pune, Maharashtra, India (w.e.f 01.11.2011) |
|
|
|
|
Overseas Offices : |
Located At: · Singapore · Sanghai · Brunei · Tamuning · Hong Kong · Indonesia · Japan 1020083 · Kazakhstan · Seoul · Malaysia · Philippines · Russia, · Colombo · Korea · Taiwan · Vietnam · Dubai |
DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Gururaj Purshottam Albal |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 19, Durwankur No. 3, S. No. 36/1/Ic/1, Pashan, Pune – 411008, Maharashtra, India |
|
Date of Birth/Age : |
14.08.1953 |
|
Qualification : |
Graduate in Textile Technology |
|
Experience : |
36 Years |
|
Date of Appointment : |
04.09.2007 |
|
PAN No.: |
AATPA8277A |
|
DIN No.: |
00185820 |
|
|
|
|
Name : |
Mr. Prakash Shankar Basannavar |
|
Designation : |
Director |
|
Address : |
S No.126/1A, Kunal Icon Pim, Saudagar Building. D/6, Flat-304, Pune – 411207, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1965 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
05214338 |
|
|
|
|
Name : |
Mr. Andrew John Edwards |
|
Designation : |
Director |
|
Address : |
The Newmarch, 1 Ludlow Gate, Bridgnorth, WV165AB, United Kingdom |
|
Date of Birth/Age : |
17.06.1968 |
|
Date of Appointment : |
02.05.2013 |
|
DIN No.: |
06591374 |
|
|
|
|
Name : |
Mr.Duccio Latin Senese Eraldo Baldi |
|
Designation : |
Director |
|
Address : |
The Old Barn, The Ham, Coaley, Gloucestershire GL 11 5AS, Dursley,
United Kingdom |
|
Date of Birth/Age : |
20.12.1963 |
|
Date of Appointment : |
08.08.2014 |
|
DIN No.: |
06937047 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Pawar |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Harish Ramlal Maheshwari |
|
Designation : |
Secretary |
|
Address : |
O-1/3, Jai Vijayshree Co-operative Housing Society, Bangur Nagar, Goregaon
(West), Mumbai – 400090, Maharashtra, India |
|
Date of Birth/Age : |
03.11.1966 |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
AAEPM3453D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2014
|
Names of Shareholders |
No. of Shares |
|
Brintons Carpets Limited, UK |
3399997 |
|
Brintons Overseas Holding Limited, UK |
3 |
|
Total |
3400000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Machine made Axminster
Woven Carpets and Spun Yarn. |
|||||||||
|
|
|
|||||||||
|
Products : |
|
|||||||||
|
|
|
|||||||||
|
Exports : |
|
|
||||||||
|
Products : |
Finished goods |
|
||||||||
|
Countries : |
·
UK ·
USA ·
Australia ·
Singapore ·
Gulf Countries ·
Sri Lanka ·
Africa Countries |
|
||||||||
|
|
|
|
||||||||
|
Imports : |
|
|
||||||||
|
Products : |
Raw Material |
|
||||||||
|
Countries : |
·
UK ·
Belgium |
|
||||||||
|
|
|
|
||||||||
|
Terms : |
|
|
||||||||
|
Selling : |
Cash and Advance Payment |
|
||||||||
|
|
|
|
||||||||
|
Purchasing : |
Cash and Advance Payment |
|
||||||||
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users
|
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
No. of Employees : |
600 (Approximately) |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Bankers : |
· Punjab National Bank, Kothrud,, Pune - 411038, Maharashtra, India · Bank of Baroda, CFS Mantri Court Ambedkar Road, Pune, Maharashtra, India · Allahabad Bank, Laxmi Road, Kunte Chowk, Pune, Maharashtra, India. · ABN Amro Bank N.V., 327, M.G. Road, , Pune - 411001, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MZSK and Associates Chartered Accountants |
|
Address : |
102 First Floor, Ganraj Market, Plot No. 438 to 441 Gate No. 2, Market Yard Pune 411037, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFK3470E |
|
|
|
|
Holding company: |
· Brintons Carpets Limited (Holding company since October 2011) |
|
|
|
|
Ultimate Holding
company: |
· Carlyle group through Lytham Holdco Limited |
|
|
|
|
Fellow Subsidiary
Company: |
· Brinton Pty Limited, Australia · Brintons Industria de Alcatifas Lda. (Portugal) |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3400000 |
Equity Shares |
Rs.100/- each |
Rs.340.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3400000 |
Equity Shares |
Rs.100/- each |
Rs.340.000 Millions |
|
|
|
|
|
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 |
340.000 |
340.000 |
340.000 |
|
(b) Reserves & Surplus |
771.926 |
694.123 |
594.898 |
|
(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) |
1111.926 |
1034.123 |
934.898 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
77.341 |
|
(b) Deferred tax liabilities
(Net) |
24.108 |
15.928 |
17.875 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.850 |
8.289 |
13.247 |
|
Total
Non-current Liabilities (3) |
32.958 |
24.217 |
108.463 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
176.554 |
|
(b) Trade payables |
85.423 |
214.686 |
367.731 |
|
(c) Other current liabilities |
45.441 |
76.741 |
66.191 |
|
(d) Short-term provisions |
21.167 |
44.740 |
46.484 |
|
Total
Current Liabilities (4) |
152.031 |
336.167 |
656.960 |
|
|
|
|
|
|
TOTAL |
1296.915 |
1394.507 |
1700.321 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
575.353 |
430.132 |
445.609 |
|
(ii) Intangible Assets |
10.582 |
8.608 |
6.210 |
|
(iii) Capital work-in-progress |
18.996 |
179.468 |
1.355 |
|
(iv) Intangible assets under
development |
0.000 |
0.059 |
0.028 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
29.770 |
30.165 |
25.793 |
|
(e) Other Non-current assets |
10.143 |
1.199 |
14.756 |
|
Total
Non-Current Assets |
644.844 |
649.631 |
493.751 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
269.355 |
308.890 |
306.930 |
|
(c) Trade receivables |
297.800 |
325.776 |
848.891 |
|
(d) Cash and cash equivalents |
24.812 |
29.190 |
1.496 |
|
(e) Short-term loans and
advances |
59.915 |
79.175 |
46.655 |
|
(f) Other current assets |
0.189 |
1.845 |
2.598 |
|
Total
Current Assets |
652.071 |
744.876 |
1206.570 |
|
|
|
|
|
|
TOTAL |
1296.915 |
1394.507 |
1700.321 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1260.658 |
1345.352 |
1267.231 |
|
|
Other Income |
4.605 |
50.430 |
88.788 |
|
|
TOTAL
|
1265.264 |
1395.782 |
1356.019 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Operating Expenses |
1074.986 |
1181.807 |
1111.951 |
|
|
TOTAL
|
1074.986 |
1181.807 |
1111.951 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
190.278 |
213.975 |
244.068 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
0.427 |
9.260 |
25.188 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
189.851 |
204.715 |
218.88 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
65.850 |
55.685 |
54.129 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
124.001 |
149.030 |
164.751 |
|
|
|
|
|
|
|
|
TAX |
46.198 |
49.805 |
57.642 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
77.802 |
99.225 |
107.109 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
870.002 |
1004.248 |
1094.474 |
|
|
|
|
|
|
|
|
IMPORTS |
483.219 |
711.590 |
653.059 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
22.88 |
29.18 |
31.5 |
Expected Sales (2014-2015): Rs.1300.000 Millions
The above information has been parted by Mr. Sachin Pawar
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.17 |
7.38 |
8.45 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.09 |
15.90 |
19.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.70 |
12.27 |
9.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.14 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.29 |
2.22 |
1.84 |
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 |
340.000 |
340.000 |
340.000 |
|
Reserves & Surplus |
594.898 |
694.123 |
771.926 |
|
Net
worth |
934.898 |
1034.123 |
1111.926 |
|
|
|
|
|
|
long-term borrowings |
77.341 |
0.000 |
0.000 |
|
Short term borrowings |
176.554 |
0.000 |
0.000 |
|
Total
borrowings |
253.895 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.272 |
0.000 |
0.000 |
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 |
1267.231 |
1345.352 |
1260.658 |
|
|
|
6.165 |
-6.295 |
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 |
1267.231 |
1345.352 |
1260.658 |
|
Profit |
107.109 |
99.225 |
77.802 |
|
|
8.45% |
7.38% |
6.17% |
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS:
HIGH
COURT OF BOMBAY
|
Case
Details |
|
|
Bench:-Bombay |
|
|
|
Lodging No.:- |
ITXAL/1496/2011 |
Filing Date:- |
24/11/2011 |
Reg. No.:- |
ITXA/180/2012 |
Reg. Date:- |
10/02/2012 |
|
|
|
Petitioner:- |
COMMISSIONER OF INCOME TAX I- |
Respondent:- |
BRINTONS CARPETS ASIA PRIVATE
LIMITED - |
|
|
|
Petn.Adv.:- |
VIMAL GUPTA (0) |
Resp.Adv.:- |
ATUL K. JASANI (0) |
|
|
|
District:- |
PUNE |
|
|
|
Bench:- |
DIVISION |
|
|
|
|
|
Status:- |
Admitted(Unready) |
Category:- |
TAX APPEALS |
|
|
|
Last Date:- |
18/02/2013 |
Stage:- |
FOR DIRECTION |
|
|
|
Last Coram:- |
HON’BLE SHRI JUSTICE J.P.
DEVADHAR HON’BLE SHRI JUSTICE M.S.
SANKLECHA |
|
||
|
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
206A |
NOTE: The registered
office of the company has been shifted from Sant Singh Mokha’s Bunglow, 60
Anand Park, Street No.2, Aundh, Pune – 411 007, India to the present address w.e.f.
28.07.1999
OPERATIONAL
PERFORMANCE:
The Revenue from operations during the year decreased marginally by 6.72% from Rs. 1345.352 Millions during the previous year to Rs 1260.658 Millions in the Current Year. This is mainly due to lower production on account of reduced global demand. The Company has earned Cash Profit of Rs. 189.851 Millions and net profit of Rs. 77.802 Millions as against previous year figures of Rs. 204.715 Millions and net profit of Rs. 99.225 Millions respectively. Previous year profit was higher due to gain on foreign exchange fluctuation of Rs 39.968 Millions against loss of Rs 0.156 Millions for current year.
In order to conserve resources the board has not recommended any dividend.
BACKGROUND
Subject was incorporated on 21 October 1997 as a 100% export oriented unit (EOU). During the year 2009, the Company has deregistered itself from being an EOU. The entire share capital of the Company was held by Brintons Limited, UK and Brintons Overseas Holding Limited. During September 2011, shares of BRASIA were acquired by Brintons Carpets Limited, UK from the existing shareholders.
The Company manufactures and sells machine made woven woolen carpets and spun yarn. A substantial portion of BRASIAs production is sold to Brintons Carpets Limited., UK and the remainder is sold in the local market. The manufacturing facility of BRASIA is located at Pirangut, Pune.
The Company also renders IT enabled design, planning and estimation services to Brintons Carpets Limited, UK in connection with manufacture of carpets.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10385086 |
08/02/2013 * |
100,000,000.00 |
PUNJAB NATIONAL BANK |
KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
B69379717 |
|
2 |
10190764 |
24/02/2010 * |
150,000,000.00 |
BANK OF BARODA CORPORATE FINANCIAL SERVICES BRANCH |
MANTRI COURT 39 RAMABAI AMBEDKAR ROAD, PUNE, MAHARASHTRA - 411001, INDIA |
A81663247 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Computer software
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.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
54 |
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.