MIRA INFORM REPORT
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Report No. : |
309258 |
|
Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
KINECO PRIVATE LIMITED |
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Registered Office : |
Plot No. 41, Pilerne Industrial Estate, Pilerne Bardez-403511, Goa |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
11.10.1994 |
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Com. Reg. No.: |
24-001672 |
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Capital Investment
/ Paid-up Capital : |
Rs. 40.000 Millions |
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CIN No.: [Company
Identification No.] |
U24134GA1994PTC001672 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK05538B |
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PAN No.: [Permanent
Account No.] |
AABCM8681P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the manufacture of chemical process equipment from Fiber
Re-in forced Plastic |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has not filed its financials with government department after
December 2012. As per available financials of December 2012 the company has managed
to earn profit unlike in March 2012. Trade relations seem to be fair. Business is active. Payment terms are
reported to be unknown. The company can be considered for business dealings with caution. |
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 |
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 DECLINED BY
|
Name : |
Mr. Sudarshan |
|
Designation : |
Legal Department |
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Contact No.: |
91-9765409318 |
|
Date : |
21.02.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No. 41, Pilerne Industrial Estate, Pilerne Bardez-403511, Goa,
India |
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Tel. No.: |
91-832-6648888 |
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Mobile No.: |
91-9765409318 (Mr. Sudarshan) |
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Fax No.: |
91-832-6648889 |
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E-Mail : |
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Website : |
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Factory 2 : |
No. 60, Pilerne Industrial Estate, Pilerne Bardez-403511, Goa, India |
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Tel. No.: |
91-832-6648888 |
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Fax No.: |
91-832-6648889 |
DIRECTORS
AS ON 30.07.2013
|
Name : |
Mr. Shekhar Ravindra Sardessai |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
G-1, Excel Residency, Tonca Caranzalem-403002, North Goa, India |
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Date of Birth/Age : |
07.07.1967 |
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Date of Appointment : |
11.10.1994 |
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DIN No.: |
00016446 |
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Name : |
Mr. Prashant Baburao Naik |
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Designation : |
Whole Time Director |
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Address : |
H. No. 44, Ebhatlem Near PWD Old Water Tank, Panaji-403001, Goa, India
|
|
Date of Birth/Age : |
01.09.1970 |
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Date of Appointment : |
26.09.2007 |
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DIN No.: |
01866113 |
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Name : |
Mr. Vinay Balasaheb Jagtap |
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Designation : |
Whole Time Director |
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Address : |
Riverdale Apartments, G3, Opposite Football Ground, Betim Porvorim,
Bardez-403521, Goa, India |
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Date of Birth/Age : |
13.04.1970 |
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Date of Appointment : |
25.03.2008 |
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DIN No.: |
573058 |
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Name : |
Mr. Vijay Suriagi Hede |
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Designation : |
Director |
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Address : |
Villa No.12, Kamat Kinara Miramar, Panaji-403001, Goa |
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Date of Birth/Age : |
02.09.1951 |
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Date of Appointment : |
29.12.2012 |
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DIN No.: |
00104591 |
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|
Name : |
Mr. Rui Joseph Alfonso |
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Designation : |
Director |
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Address : |
A1201, Trikutta Tower S Gandhinagar Powai, Mumbai-400076, Maharashtra,
India |
|
Date of Birth/Age : |
25.08.1958 |
|
Date of Appointment : |
29.12.2012 |
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DIN No.: |
06513427 |
KEY EXECUTIVES
|
Name : |
Mr. Sudarshan |
|
Designation : |
Legal Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2013
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Shekhar Ravindra Sardessai |
65873 |
-- |
|
Shashikant Rajaram Priolker |
6386 |
-- |
|
Rui Alfonso |
29167 |
-- |
|
Tom Quinn |
5984 |
-- |
|
Diana D’esouza |
6302 |
-- |
|
Martinez Michela Dehoz |
16621 |
-- |
|
Sanjay Guha |
8338 |
-- |
|
Maria Johanna Veronica Zaat |
5548 |
|
|
Ramakant Verlekar |
1 |
-- |
|
Robin Harish Mazumdar |
15660 |
-- |
|
Pranay Vinubhai Shah |
12 |
-- |
|
Shivanand Salgaonkar |
40105 |
200000 |
|
Sriram Natarajan |
1 |
-- |
|
Vijay Sinai Suriagi Hede |
1 |
-- |
|
Mariano Dias |
1 |
|
|
TOTAL
|
200000 |
200000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.07.2013
|
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 |
14.08 |
|
Directors or relatives of Directors |
50.67 |
|
Others |
35.25 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture of chemical process equipment from Fiber
Re-in forced Plastic. |
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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 (As On 31.12.2012)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Railway Products |
Nos. |
Cannot be
qualified |
2 |
|
Advance Composite Products |
Nos. |
Cannot be
qualified |
- |
|
Industrial Composites Products |
Nos. |
Cannot be
qualified |
43010 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management. |
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Bankers : |
State Bank of India, Commercial Branch, State Bank, Learning Centre
Building, Patto Plaza, Panaji, Goa-403001, India |
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Facilities : |
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Banking
Relations : |
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Financial Institution : |
Pyramid Finance Private Limited, Salgaocar House, Fluis Gomes Road,
Vasco Da Gama, Goa-403802, India |
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Auditors : |
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Name : |
JSV and Company Chartered Accountants |
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Address : |
410, Gera Imperium Patto Plaza, Panaji-403511, Goa, India |
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Tel. No.: |
91-832-2437288 |
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E-Mail : |
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PAN No: |
AAIFJ7818D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries : |
Conley Kineco
Pipe System Private Limited CIN No.: -
U26956GA2004PTC003580 Kineco Kaman
Composites- India Private Limited CIN No.:-
U25203GA2012PTC007223 |
CAPITAL STRUCTURE
AS ON 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
500000 |
Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
TOTAL |
|
Rs. 70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
200000 |
Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
TOTAL |
|
Rs. 40.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.12.2012 |
31.03.2012 |
31.03.2011 |
|
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
(1)Shareholders' Funds |
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|
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|
(a) Share Capital |
40.000 |
40.000 |
40.000 |
|
(b) Reserves & Surplus |
(6.821) |
(13.491) |
51.372 |
|
(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) |
33.179 |
26.509 |
91.372 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26.391 |
65.397 |
85.350 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
20.043 |
33.546 |
0.000 |
|
(d) long-term provisions |
2.931 |
2.770 |
2.978 |
|
Total
Non-current Liabilities (3) |
49.365 |
101.713 |
88.328 |
|
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|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
87.802 |
140.086 |
102.651 |
|
(b) Trade payables |
88.880 |
102.793 |
132.474 |
|
(c) Other current liabilities |
46.684 |
37.499 |
27.551 |
|
(d) Short-term provisions |
5.829 |
10.862 |
11.183 |
|
Total
Current Liabilities (4) |
229.195 |
291.240 |
273.859 |
|
|
|
|
|
|
TOTAL |
311.739 |
419.462 |
453.559 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
74.279 |
122.674 |
112.653 |
|
(ii) Intangible Assets |
41.201 |
43.205 |
45.876 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
16.212 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
34.939 |
10.552 |
10.307 |
|
(c) Deferred tax assets (net) |
9.576 |
9.576 |
9.576 |
|
(d) Long-term Loan and
Advances |
27.518 |
0.788 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
187.513 |
186.795 |
194.624 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
22.887 |
48.409 |
65.751 |
|
(c) Trade receivables |
50.254 |
141.407 |
152.284 |
|
(d) Cash and cash equivalents |
17.814 |
7.527 |
8.694 |
|
(e) Short-term loans and
advances |
32.161 |
34.779 |
31.250 |
|
(f) Other current assets |
1.110 |
0.545 |
0.956 |
|
Total
Current Assets |
124.226 |
232.667 |
258.935 |
|
|
|
|
|
|
TOTAL |
311.739 |
419.462 |
453.559 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
61.773 |
128.481 |
277.198 |
|
|
Other Income |
203.166 |
0.601 |
9.655 |
|
|
TOTAL
(A) |
264.939 |
129.082 |
286.853 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Material Consumed |
50.697 |
73.458 |
134.471 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.107 |
2.573 |
(5.925) |
|
|
Employees benefits expense |
27.514 |
43.635 |
50.767 |
|
|
Other expenses |
96.768 |
25.195 |
45.287 |
|
|
TOTAL
(B) |
177.086 |
144.861 |
224.600 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
87.853 |
(15.779) |
62.253 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.346 |
36.111 |
25.237 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
48.507 |
(51.890) |
37.016 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
28.308 |
12.972 |
10.891 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
20.199 |
(64.862) |
26.125 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
2.488 |
0.000 |
2.024 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
17.711 |
(64.862) |
24.101 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(57.640) |
7.222 |
(10.794) |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Dividend |
9.500 |
0.000 |
4.142 |
|
|
Tax on Dividend |
1.541 |
0.000 |
0.688 |
|
|
Total
(M) |
11.041 |
0.000 |
4.830 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
(50.970) |
(57.640) |
7.222 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
21.393 |
38.872 |
77.262 |
|
|
TOTAL
EARNINGS |
21.393 |
38.872 |
77.262 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
88.56 |
(324.31) |
114.23 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.03.2012 |
31.03.2011 |
|
|
Net Profit Margin |
(%) |
28.67 |
(50.48) |
8.69 |
|
|
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
142.22 |
(12.28) |
22.46 |
|
|
|
|
|
|
|
|
|
Return on Total Assets |
(%) |
7.56 |
(16.24) |
6.26 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) |
|
0.61 |
(2.45) |
0.29 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio |
|
3.44 |
7.75 |
2.06 |
|
|
|
|
|
|
|
|
|
Current Ratio |
|
0.54 |
0.80 |
0.95 |
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.12.2012 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
40.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
51.372 |
(13.491) |
(6.821) |
|
Net
worth |
91.372 |
26.509 |
33.179 |
|
|
|
|
|
|
long-term borrowings |
85.350 |
65.397 |
26.391 |
|
Short term borrowings |
102.651 |
140.086 |
87.802 |
|
Total
borrowings |
188.001 |
205.483 |
114.193 |
|
Debt/Equity
ratio |
2.058 |
7.751 |
3.442 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.12.2012 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
277.198 |
128.481 |
61.773 |
|
|
|
(53.650) |
(51.921) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.12.2012 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
277.198 |
128.481 |
61.773 |
|
Profit |
24.101 |
(64.862) |
17.711 |
|
|
8.69% |
(50.48)% |
28.67% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.12.2012 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
NA |
NA |
19.800
|
|
|
|
|
|
|
Total |
NA |
NA |
19.800
|
|
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 |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.12.2012 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Term Loans |
|
|
|
Loan From Shareholders |
7.865 |
7.630 |
|
Loan and Advances from Directors and Friends and Relatives of
Directors, Members |
1.842 |
3.046 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Demand loan from
others |
|
|
|
Loan From Pyramid Finance Limited |
0.000 |
3.525 |
|
Total |
9.707 |
14.201 |
CORPORATE INFORMATION
Kineco Private Limited was incorporated as a Private
Limited Company under the Companies Act, 1956 in the year in 1995 and was
initially engaged in the manufacture of chemical process equipment from Fiber
Re-in forced Plastic. Kineco’s revenue can be segregated into two major
business divisions namely the industrial composites division (comprising
filament winding and moulded products) and advanced composites division. Kineco
is the business of manufacturing high technology composite products which find
application in a number of industries including Automotive, Railways, Water
Treatment, Chemical Process Equipment, Construction Equipment, Telecom and
Aerospace. Kineco is based in Pilerne Industrial Estate, Goa, and has one
manufacturing unit spread across approximately 6,195 square meters. The company
has a manufacturing area in excess of 3,254 square meters.
HIGHLIGHTS
The state that the
highlight of the period of nine months has been the successful formation of the
Joint Venture (JV) with Kaman Aerospace Group Inc; USA. After successful
execution of the Joint Venture agreement on 20th September, 2012, the Joint
venture formally became operational on 02nd November, 2012 under the name and
style of Kineco Kaman Composites- India Private Limited (KKCI). This was
followed by an official inauguration of the upgraded JV facility and launch of
the JV into the market on 081h January, 2013.
The Directors are
further pleased to inform you that KKCI has been very well received by the customers
and has won some good milestone orders from International Aerospace majors/Tier
I suppliers within the first 6 months of its launch. Going forward, KKCI
anticipates major opportunities in the global commercial and defense aerospace
market including offset opportunities arising from major Defense spending by
India Government.
In addition to the
existing investment in the manufacturing facilities at Pilerne Industrial
Estate, KKCI plans to invest in upgradation and modernization of the plant
which includes additional capability and capacity building commensurate with
customer demands for secured and projected business volumes.
KKCI has initially
employed 55 people most of whom have been taken over from the erstwhile
Kineco's Advanced Composite Division and based on the anticipated growth, plans
to employ over 300 people in the next 3-5 years.
KKCI expects to
manufacture parts for the aircraft manufacturers like Boeing and Airbus as well
as Helicopter manufacturers like Sirkosky, Bell and others.
The Company is
expecting to see KKCI break-even within 15 months of its commercial launch.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10393287 |
07/08/2014 * |
15,103,022.00 |
PYRAMID FINANCE
PRIVATE LIMITED |
SALGAOCAR HOUSE,
F LUIS GOMES ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
C17141987 |
|
2 |
10256749 |
02/11/2012 * |
4,150,000.00 |
PYRAMID FINANCE
PRIVATE LIMITED |
SALGAOCAR HOUSE,
F LUIS GOMES ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B62861240 |
|
3 |
90076569 |
15/10/2005 |
190,000.00 |
ICICI BANK
LIMITED |
PANAJI, PANAJI,
GOA, GOA, INDIA |
- |
|
4 |
90076427 |
26/09/2003 |
8,145,009.00 |
TECHNOLOGY INFORMATION; |
FORECASTING AND
ASSESSMENT COUNCIL;, TECHNOLOGY BHAVAN NEW MEHRULI ROAD;, NEW DELHI, DELHI -
110016, INDIA |
- |
|
5 |
90076363 |
01/08/2003 * |
2,660,900.00 |
TECHNOLOGY
INFORMATION; |
FORECASTING AND ASSESSMENT
COUNCIL;, TECHNOLOGY BHAVAN NEW MEHRULI ROAD;, NEW DELHI, DELHI -
110016, INDIA |
- |
|
6 |
90076342 |
30/09/2013 * |
200,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH,, STATE BANK LEARNING CENTRE BLDG., PATTO PLAZA,, PANAJI, GOA - 403001,
INDIA |
B90291840 |
* Date of charge modification
FIXED ASSETS
- Factory Building
- Plant, Machinery,
Equipments and Tools
- Electrical Fittings
- Furniture and Fixtures
- Office Equipments
- Vehicle
- Computers
- Laboratory Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.96.00 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.