MIRA INFORM REPORT

 

 

Report No. :

301325.2

Report Date :

26.02.2015

 

IDENTIFICATION DETAILS

 

Name :

G. R. ENGINEERING PRIVATE LIMITED [w.e.f. 05.05.2008]

 

 

Formerly Known As :

HARIANI HOLDINGS PRIVATE LIMITED

 

 

Registered Office :

Poonam Chambers, A Wing, 2nd Floor, Dr. A B Road, Worli, Mumbai – 400 018, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

17.10.1990

 

 

Com. Reg. No.:

11-058602

 

 

Capital Investment / Paid-up Capital :

Rs. 54.396 Millions

 

 

CIN No.:

[Company Identification No.]

U65990MH1990PTC058602

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMG13231B

 

 

PAN No.:

[Permanent Account No.]

AAACH8828G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Importer of Process Equipment – Coded Vessels, Reactors, Columns, Pressure Vessels, Shell and Tube Exchangers, Horton Spheres, Mounded Bullets / Tanks, Piping works.

 

 

No. of Employees :

Information denied by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is the flagship of the “G. R. Group”. It is an established company having satisfactory track.

 

The company possess an acceptable financial profile marked by adequate networth base, aggressive gearing along with a slight deterioration in the working capital and liquidity position.

 

Management has seen an increase in its business risk profile in the operating environment resulting in adversely affecting the revenue growth as well as net profitability during FY 14.

 

The rating also take into consideration, the susceptibility of margins to the fluctuations in the raw material prices.

 

However, trade relations are fair. Business is active. Payment terms are reported as usually correct.

 

In view of established position and track records, the subject 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

ICRA

Rating

Long term rating BBB

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

November 2014

 

 

Rating Agency Name

ICRA

Rating

Short term rating A3+

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

November 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 DECLINED

 

Management Non-cooperative. (Tel. No.: 91-22-24960551)

 

 

LOCATIONS

 

Registered Office/ Head Office :

Poonam Chambers, A Wing, 2nd Floor, Dr. A B Road, Worli, Mumbai – 400 018, Maharashtra, India

Tel. No.:

91-22-2496 0551/52/53/54/55

Fax No.:

91-22-24964532

E-Mail :

grew@vsnl.com

info@grengg.com

Website :

http://www.grengg.com

 

 

Shipping Division:

5A/5B, Sapana Terraces, 1st Floor, Swatantra Path, Vasco-Da-Gama, Goa – 403802, India

Tel. No.:

91-834-2512972 / 2512973

Fax No.:

91-834-2510415

E-Mail :

grgoa@grengg.com

 

 

Regional Office :

209/210, Som Dut Chambers – II, 9, Bhikaji Cama Place, New Delhi – 110 066, India

Tel. No.:

91-11-2617 0252 / 2618 6779

Fax No.:

91-11-2619 2884

E-Mail :

grdelhi@del2.vsnl.net.in

 

 

Workshop:

G - 14, M.I.D.C. Industrial Area, Tarapur - 401 506, Maharashtra (INDIA)

Tel. No.:

91-2525-272870 / 272970

Fax No.:

91-2525-273287

Email.

grewl_tpr@vsnl.net

 

 

DIRECTORS

 

As on: 27.09.2014

 

Name :

Mr. Daulatram Pribhadas Hariani

 

Designation :

Whole Time Director

 

Address :

401 Prabhu Kutir, Alta Mount Road, Mumbai – 400 026, Maharashtra, India

 

Date of Birth/Age :

27.10.1926

 

Date of Appointment :

17.10.1990

 

PAN No.:

AAAPH2351R

 

Election Commission Identity Card No. :

MT / 04 / 024 / 3542566

 

Din No.:

00131120

 

 

 

 

Name :

Mr. Ramesh Daulatram  Hariani

 

Designation :

Managing Director

 

Address :

Bunglow No. 3, Ground Floor, Grand Paradi Apartment, Dadi Seth Road, Mumbai-400036, Maharashtra, India

 

Date of Birth/Age :

11.10.1949

 

Date of Appointment :

17.10.1999

 

PAN No.:

AAAPH1681E

 

Election Commission Identity Card No. :

MT / 040 / 024 / 009562

 

Din No.:

00131240

 

 

 

 

Name :

Mr. Shankar Shripad Shirolkar

 

Designation :

Director

 

Address :

1st Floor, Apls Plaza, 15 Second Bhatwadi Girgaum, Mumbai – 400 004, Maharashtra, India

 

Date of Birth/Age :

26.12.1938

 

Date of Appointment :

08.05.2008

 

PAN No.:

AOPPS3509H

 

Din No.:

01891727

 

 

 

 

Name :

Mrs. Parmeshwari Daulatram Hariani

 

Designation :

Whole time Director

 

Address :

401, Pabhu Kutir, Alta Mount Road, Mumbai-400026, Maharashtra, India

 

Date of Birth/Age :

21.08.1929

 

Date of Appointment :

08.05.2008

 

PAN No.:

AAAPH7954E

 

Election Commission Identity Card No. :

MT / 04 / 024 / 354255

Din No.:

00131387

 

 

 

 

Name :

Mrs. Chilamilika Lalini Hariani

 

Designation :

Whole Time Director

 

Address :

Row House No. 3, Grand Paradi Apartment, August Kranti Marg, Mumbai – 400 036, Maharashtra, India

 

Date of Birth/Age :

06.08.1948

 

Date of Appointment :

08.05.2008

 

PAN No.:

AAAPH7884B

 

Din No.:

01844372

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 27.09.2014

 

Names of Shareholders

 

No. of Shares

Daulatram Pribhdas Hariani

 

358900

Parmeshari Daulatram Hariani

 

446940

Daulatram P Hariani-HUF

 

96000

Ramesh Daulatram Hariani

 

2894840

Chilamilika Lalni Hariani

 

72000

Gope Daulatram Hariani-NRE

 

30720

Gope Daulatram Hariani-NRO

 

136800

Jay Gope Hariani-NRE

 

221440

Jay Gope Hariani-NRO

 

44544

Neil F Hariani-NRE

 

221440

Neil F Hariani-NRO

 

24000

Gita H Zeigelbaur-NRE

 

413856

Gita H Zeigelbaur-NRO

 

153320

Shaun Paul Zeigelbaur-NRE

 

160000

Gita H Zeigelbaur-NRE

 

160000

Chander Pribhdas Hariani

 

4800

 

 

 

TOTAL

 

5439600

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 27.09.2014

 

Category

 

Percentage

 

 

 

Directors or relatives of directors

 

100.00

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Importer of Process Equipment – Coded Vessels, Reactors, Columns, Pressure Vessels, Shell and Tube Exchangers, Horton Spheres, Mounded Bullets / Tanks, Piping works.

 

 

Products :

ITC CODE

PRODUCTS

85023100

Work Contract

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information denied by the management.

 

 

Bankers :

 

Banker Name :

Bank of Maharashtra

Branch Address :

Worli Branch, Ready Money Terrace, Worli Naka, Mumbai - 400018, Maharashtra, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
  • The Hong Kong and Shanghai Banking Corporation Limited, 52/60 Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India

 

 

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2014

As on

31.03.2013

Long term borrowings

 

 

Rupee term loans from banks

389.706

301.812

 

 

 

Short term borrowings

 

 

Working capital loans from banks

425.000

319.958

Rupee term loans from banks

535.979

194.581

Total

1350.685

816.351

 

Auditors :

 

Name :

Sharp and Tannan

Chartered Accountants

Address :

Ravindra Annexe,194 Churchgate Reclamation ,Dinshaw Vachha Road, Mumbai, Maharashtra, India

PAN No.:

AAAFS2967E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Fellow Subsidiary

Company :

G. R. Infrastructure Private Limited [U45200MH2005PTC152633]

 

 

Subsidiary

Company :

Grew Industries Private Limited

 

 

 

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

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5439600

Equity Shares

Rs.10/- each

Rs.54.396 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

54.396

54.396

54.396

(b) Reserves & Surplus

1836.667

1779.834

1671.260

(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)

1891.063

1834.230

1725.656

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

886.494

656.564

22.522

(b) Deferred tax liabilities (Net)

17.707

25.432

30.625

(c) Other long term liabilities

64.387

68.924

3.690

(d) long-term provisions

4.497

6.351

5.269

Total Non-current Liabilities (3)

973.085

757.271

62.106

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1340.342

839.247

962.238

(b) Trade payables

496.687

452.803

373.514

(c) Other current liabilities

572.698

258.644

944.984

(d) Short-term provisions

8.579

6.320

427.628

Total Current Liabilities (4)

2418.306

1557.014

2708.364

 

 

 

 

TOTAL

5282.454

4148.515

4496.126

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

835.037

834.829

659.599

(ii) Intangible Assets

4.848

0.304

0.714

(iii) Capital work-in-progress

9.606

85.841

144.863

(iv) Intangible assets under development

0.000

15.157

11.465

(b) Non-current Investments

458.541

458.541

467.188

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term Loan and Advances

6.551

7.464

254.736

(e) Other Non-current assets

38.687

38.192

0.329

Total Non-Current Assets

1353.270

1440.328

1538.894

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

817.893

616.316

621.223

(c) Trade receivables

1185.069

694.652

905.805

(d) Cash and cash equivalents

14.276

3.884

3.471

(e) Short-term loans and advances

348.826

463.718

606.931

(f) Other current assets

1563.120

929.617

819.802

Total Current Assets

3929.184

2708.187

2957.232

 

 

 

 

TOTAL

5282.454

4148.515

4496.126

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

2746.945

2605.718

2427.030

 

Other Income

17.781

155.609

68.986

 

TOTAL (A)

2764.726

2761.327

2496.016

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL (B)

2376.535

2350.105

2012.887

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

388.191

411.222

483.129

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

175.093

134.553

98.194

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

213.098

276.669

384.935

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

120.819

112.631

100.383

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

92.279

164.038

284.552

 

 

 

 

 

Less

PRIOR PERIOD ADJUSTMENT

0.000

2.167

8.100

 

 

 

 

 

Less

TAX (H)

35.445

53.298

70.362

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

56.834

108.573

206.090

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

791.207

682.634

529.154

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

848.041

791.207

735.244

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

10.45

19.96

37.89

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

2.07

4.17

8.49

 

 

 

 

 

Operating Profit Margin

(PBITD/Sales)

(%)

14.13

15.78

19.91

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.92

4.57

7.35

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.05

0.09

0.16

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.18

0.82

0.57

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.62

1.74

1.09

 

 

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

54.396

54.396

54.396

Reserves & Surplus

1671.260

1779.834

1836.667

Net worth

1725.656

1834.230

1891.063

 

 

 

 

long-term borrowings

22.522

656.564

886.494

Short term borrowings

962.238

839.247

1340.342

Total borrowings

984.760

1495.811

2226.836

Debt/Equity ratio

0.571

0.815

1.178

 

 

 

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

2427.030

2605.718

2746.945

 

 

7.362

5.420

 

 

 

 

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

2427.030

2605.718

2746.945

Profit

206.090

108.573

56.834

 

8.49%

4.17%

2.07%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

DETAILS OF CURRENT MATURITIES OF LONG TERM DEBT:

 

Particulars

 

31.03.2014

[Rs. in millions]

31.03.2013

[Rs. in millions]

31.03.2012

[Rs. in millions]

 

 

 

 

Current Maturities of Long Term Debt

N.A

36.359

30.604

 

 

 

 

 

 

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

No

10]

Designation of contact person

No

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

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

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]

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

Yes

34]

External Agency Rating, if available

Yes

 

 

UNSECURED LOAN

(Rs. In Millions)

Particulars

As on

31.03.2014

As on

31.03.2013

Long term borrowings

 

 

Other loans and advances

493.500

350.000

Deferred payment liabilities

3.288

4.752

Short term borrowings

 

 

Rupee term loans from others

379.363

324.708

Total

876.151

679.460

 

OPERATIONS:

 

During the current year, the Company has recorded Gross Revenue of Rs. 2746.945 Million as compared to Rs. 2605.718 Million in the previous year. EBDITA stood at Rs.308.191 Million (Previous Year Rs. 411.222 Million)

 

Despite increase in turnover by 5.42%, the profit before Tax has reduced due to increased in the Finance Cost, the pressure in margins in the new orders and delay in completion of some of the projects.

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10535433

17/10/2014

24,800,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, 
Maharashtra - 400001, INDIA

C36259570

2

10526420

30/09/2014

2,380,268.00

SUNDARAM FINANCE LIMITED

21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA

C30122881

3

10526418

27/09/2014

2,380,268.00

SUNDARAM FINANCE LIMITED

21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA

C30122212

4

10526421

27/09/2014

2,975,335.00

SUNDARAM FINANCE LIMITED

21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA

C30123251

5

10526416

27/09/2014

39,869,489.00

SUNDARAM FINANCE LIMITED

21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA

C30121990

6

10526465

27/09/2014

70,000,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, 
Maharashtra - 400001, INDIA

C30139083

7

10455833

25/09/2013

34,650,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, 
Maharashtra - 400001, INDIA

B87736138

8

10430422

07/05/2013

150,000,000.00

Yes Bank Limited

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. 
ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 
400018, INDIA

B76853357

9

10411927

30/01/2013

86,149,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, 
Maharashtra - 400001, INDIA

B70799697

10

10127673

18/11/2014 *

5,000,000,000.00

BANK OF MAHARASHTRA

WORLI BRANCH, READY MONEY TERRACE,, WORLI NAKA, MUMBAI, Maharashtra - 400018, INDIA

C38038600

 

 

* Date of charge modification

 

 

FIXED ASSETS:

 

  • Land (Free Hold / Lease Hold)
  • Buildings (On Free Hold / Lease Hold land)
  • Furniture and Fixtures
  • Barges and Vessels
  • Plant and Machinery
  • Office Equipment
  • Vehicles
  • Computer

 

 

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 records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 64.04

UK Pound

1

Rs. 96.02

Euro

1

Rs. 70.42

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

4

--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

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.