MIRA INFORM REPORT

 

 

Report Date :

02.01.2015

 

IDENTIFICATION DETAILS

 

Name :

DHANLAXMI ROTO SPINNERS LIMITED

 

 

Registered Office :

Survey No. 114 & 115, Station Road, Thimmapur - 509325, Mahbubnagar District, Andhra Pradesh.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.09.1987

 

 

Com. Reg. No.:

01-007769

 

 

Capital Investment / Paid-up Capital :

Rs. 39.003 Millions

 

 

IEC No.:

0990004830

 

 

CIN No.:

[Company Identification No.]

L18100TG1987PLC007769

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDS08949D

 

 

PAN No.:

[Permanent Account No.]

AAACD8429P

 

 

Legal Form :

A Public Limited Liability Company.  The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Trading of Textile, Paper, and Wood Pulp.

 

 

No. of Employees :

50 ( Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 190000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Reserve of the company seems to be low during 2014.

However, General financial position of the company seems to be decent.

 

Trade relations are fair. Business is active. Payments terms are slow but correct.

 

The company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

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. Anirudha Irani

Designation :

Export Manager

Contact No.:

91-9866322221

Date :

12.12.2014

 

 

LOCATIONS

 

Registered Office :

Survey No. 114 & 115, Station Road, Thimmapur - 509325, Mahbubnagar District Andhra Pradesh, India

Tel. No.:

91-40-32990707 / 8548-257181/ 32990707 / 27847960

Mobile No.:

91-9866322221 (Mr. Anirudh Inani)

Fax No.:

91-40-27847960

E-Mail :

dhanlaxmiroto@yahoo.co.in

dahnroto@gmail.com

inani@eth.net

Website :

www.dhanaroto.com

Area :

5000 sq. Ft.

Location :

Owned

Locality:

Industrial

 

 

Factory  :

Survey No.114 and 115, Station Road, Timmapur – 509325 Mahbubnagar, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Rajkumar Inani

Designation :

Whole Time Director

Address :

15-9-56, Maharaj Gunj, Hyderabad – 500012, Andhra Pradesh, India

Date of Birth/Age :

30.05.1964

Qualification :

BE Tech.

Date of Appointment :

30.09.2014

DIN No.:

00885466

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U17120MH1986PTC040372

DHANSHREE SYNTEX PRIVATE LIMITED

Director

11/07/1986

11/07/1986

26/07/2010

Active

NO

2

L18100TG1987PLC007769

DHANALAXMI ROTO SPINNERS LIMITED

Managing director

30/09/2014

30/10/1992

-

Active

NO

3

U67120TG1997PTC028628

KARMANGHAT SECURITIES PRIVATE LIMITED

Director

29/09/2009

16/03/2009

-

Active

NO

 

 

Name :

Mr. Anirudh Inani

Designation :

Whole Time Director

Address :

15-9-1-56, Maharaj Gunj, Hyderabad- 500012, Andhra Pradesh, India

Date of Birth/Age :

30.04.1980

Qualification :

BE

Date of Appointment :

30.09.2014

DIN No.

02253588

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

L18100TG1987PLC007769

DHANALAXMI ROTO SPINNERS LIMITED

Whole-time director

30/09/2014

30/06/2009

-

Active

NO

 

 

Name :

Mr. Narayan Inani

Designation :

Executive Director

Address :

15-9-1-56, Maharaj Gunj, Hyderabad- 500012, Andhra Pradesh, India

Date of Birth/Age :

10.09.1968

Qualification :

Diploma in IT

Date of Appointment :

01.07.2010

DIN No.:

00525403

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U65920TG1996PLC024103

INANI COMMODITIES AND FINANCE LIMITED

Director

29/09/1997

29/09/1997

31/07/2010

Active

NO

2

U67120TG1997PTC028628

KARMANGHAT SECURITIES PRIVATE LIMITED

Director

29/12/1997

29/12/1997

-

Active

NO

3

U67120TG1997PTC028627

L.K.I.SECURITIES PRIVATE LIMITED

Director

29/12/1997

29/12/1997

26/07/2010

Active

NO

4

L18100TG1987PLC007769

DHANALAXMI ROTO SPINNERS LIMITED

Whole-time director

01/07/2010

30/09/2003

-

Active

NO

 

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

1387250

35.57

http://www.bseindia.com/include/images/clear.gifBodies Corporate

203825

5.23

http://www.bseindia.com/include/images/clear.gifSub Total

1591075

40.79

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

1591075

40.79

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

200

0.01

http://www.bseindia.com/include/images/clear.gifSub Total

200

0.01

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

150018

3.85

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 1 lakh

1297241

33.26

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 1 lakh

859542

22.04

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

2224

0.06

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

1224

0.03

http://www.bseindia.com/include/images/clear.gifClearing Members

1000

0.03

http://www.bseindia.com/include/images/clear.gifSub Total

2309025

59.20

Total Public shareholding (B)

2309225

59.21

Total (A)+(B)

3900300

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

3900300

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trading of Textile, Paper, and Wood Pulp.

 

 

Products :
  • Cotton Seed Meal
  • Cotton Seed Cake
  • Wood Pulp
  • Duplex Board
  • Manila Board
  • Wood Free Paper

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • Textile
  • Paper
  • Wood Pulp

Countries :
  • Middlest Countries
  • South Africa
  • Japan 

 

 

Imports :

 

Products :
  • Textile
  • Paper
  • Wood Pulp

Countries :
  • USA
  • Canada
  • Indonesia
  • Australia

 

 

Terms :

 

Selling :

Cash, Advance Payment, and Cheque,

 

 

Purchasing :

Cash, Advance Payment, and Cheque,

 

 

 

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 :

50 ( Approximately)

 

 

Bankers :

 

Banker Name :

Punjab National Bank

Branch Address :

Hyderabad, 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

 

  • Tamilnad Mercantile Bank Limited

15-2-698, 1st Floor, Siddiamber Bazar, Kishangunj, Hyderabad – 500012, Andhra Pradesh, India

 

  • Citi Bank

Ground Floor, Queens Plaza, S.P.Road, Begumpet, Hyderabad – 500003, Andhra Pradesh, India

 

  • Canbank Factors Limited

Hyderabad Branch, Road No. 19, Himayath Nagar, Hyderabad – 500029, Andhra Pradesh, India

 

 

 

Facilities :

Secured Loans

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

Long Term Borrowings

 

 

     Term Loans (Secured)

 

 

           From Banks

          (Mortgage of Vehicles)

0.718

1.374

 

 

 

Short Term Borrowings

 

 

           Loans From Bank

           (Secured by hypothecation of      inventories, book debts receivables and against collateral security of open land and Premises in the name of the company)

0.000

5.601

Total

0.718

6.975

 

Auditors :

 

Name :

G.D. Upadhyay and Company

(Chartered Accountant)

Address :

15-1-153, 2nd Floor, Upstairs Andhra Bank, Opp. Gosharmahal High school, Suddiamber Bazar, Hyderabad – 500012, Andhra Pradesh, India

PAN No.:

AAFPU2846P

 

 

Memberships :
  • The Federation of Indian Export Organizations (FIFO).
  • Confederation of Indian Industry (CII).
  • The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI). 

 

 

Associates/Subsidiaries :
  • Anirudh Marketing
  • Inani Distributors
  • Karmanghal Securities Private Limited 

 

 

CAPITAL STRUCTURE

 

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- Each

Rs.50.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3900300

Equity Shares

Rs.10/- Each

Rs.39.003 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

39.003

39.003

39.003

(b) Reserves & Surplus

27.751

23.199

19.080

(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)

66.754

62.202

58.083

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.718

1.374

0.352

(b) Deferred tax liabilities (Net)

1.139

1.203

1.065

(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)

1.857

2.577

1.417

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

5.790

5.601

0.000

(b) Trade payables

93.487

39.615

54.755

(c) Other current liabilities

3.264

2.144

(2.683)

(d) Short-term provisions

0.725

0.048

0.831

Total Current Liabilities (4)

103.266

47.408

52.903

 

 

 

 

TOTAL

171.877

112.187

112.403

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

17.691

16.437

14.303

(ii) Intangible Assets

0.031

0.031

0.032

(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

0.897

0.897

0.897

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

27.527

18.281

0.342

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

46.146

35.646

15.574

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

3.471

4.290

6.503

(c) Trade receivables

66.995

42.079

37.830

(d) Cash and cash equivalents

50.701

18.568

28.857

(e) Short-term loans and advances

4.564

11.604

23.639

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

125.731

76.541

96.829

 

 

 

 

TOTAL

171.877

112.187

112.403

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue From Operation

397.213

255.068

296.548

 

 

Other Income

5.232

4.892

4.939

 

 

TOTAL                                     (A)

402.445

259.960

301.487

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchase of Stock in Trade

359.440

227.004

269.361

 

 

Changes in Inventories of Finished Goods. 

0.818

2.213

(5.180)

 

 

Employee Benefit Expenses

5.931

5.077

2.996

 

 

Other Expenses

24.103

16.019

21.499

 

 

TOTAL                                     (B)

390.292

250.313

288.676

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

12.153

9.647

12.811

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

4.113

2.345

3.622

 

 

 

 

 

 

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

8.040

7.302

9.189

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1.453

1.088

1.113

 

 

 

 

 

Less

PRIOR PERIOD ITEMS BEFORE TAX               (G)

0.125

0.108

0.093

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F-G)                          (H)

6.462

6.106

7.983

 

 

 

 

 

Less

TAX                                                                  (I)

1.909

1.964

2.548

 

 

 

 

 

 

PROFIT AFTER TAX (H-I)                                  (J)

4.553

4.142

5.435

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

0.000

1.824

14.367

 

TOTAL EARNINGS

0.000

1.824

14.367

 

 

 

 

 

 

Earnings Per Share (Rs.10/- Each)

1.17

1.06

1.39

 

Expected Sales (2014-15) : Rs. 200.000 millions

 

The above information has been parted by Mr. Anirudh Irani (Export Manager)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

1.15

1.62

1.86

 

 

 

 

 

Operating Profit Margin

(PBITD/Sales)

(%)

3.06

3.78

4.32

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.78

5.49

7.24

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10

0.10

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.10

0.11

0.01

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.22

1.61

1.83

 

 

 

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

39.003

39.003

39.003

Reserves & Surplus

19.080

23.199

27.751

Net worth

58.083

62.202

66.754

 

 

 

 

long-term borrowings

0.352

1.374

0.718

Short term borrowings

0.000

5.601

5.790

Total borrowings

0.352

6.975

6.508

Debt/Equity ratio

0.006

0.112

0.097

 

 

 

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

296.548

255.068

397.213

 

 

(13.988)

55.728

 

 

 

 

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

296.548

255.068

397.213

Profit

5.528

4.142

4.553

 

1.86%

1.62%

1.15%

 

 

 

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

No

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)

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

 

 

REVIEW OF OPERATIONS:

 

During the year, the company has made a Gross Income of Rs. 402.446 Million when compared to Rs. 259.980 Millions in the earlier year. Net profit before Taxation and exceptional items earned during the year amounted to Rs. 6.586 Millions, as against Rs 6.214 Million in the previous year. Profit after Tax was at Rs. 4.553 Million against Rs. 4.142 Millions of earlier year.

 

 

FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE:

 

The Financial Statements are prepared under the historical cost convention in accordance with Indian generally accepted accounting principles and the provisions of the Companies Act, 1956. All Income and Expenditure having a material bearing on the Financial Statements are recognized on accrual basis. The Management has taken utmost care for the integrity and the objectivity of these Financial Statements, as well as for various estimates and judgments used therein.

 

 

VIEW INDEX OF CHARGE:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90119319

24/05/2012 *

92,500,000.00

TAMILNAD MERCANTILE BANK LIMITED

15-2-696,FIRST FLOOR, SIDDIAMBER BAZAAR,KISHAN GUNJ, HYDERABAD, Andhra Pradesh - 500012, INDIA

B41867813

 

* Date of charge modification

 

Fixed Assets:

 

  • Land
  • Industrial Plot
  • Building
  • Bore well
  • Furniture & fixtures
  • Vehicles
  • Office Equipment
  • Computer & Printers
  • Live Stock

 

 

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.63.32

UK Pound

1

Rs.98.63

Euro

1

Rs. 76.59

 

 

INFORMATION DETAILS

 

Information Gathered by :

SAN

 

 

Analysis Done by :

RSM

 

 

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

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

4

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

48

 

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

 

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.