MIRA INFORM REPORT
|
Report No. : |
302424 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIRTH AGRO TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shaktiman, Survey No.-108/1, Plot No. B, NH-8B, Near Bharudi Toll
Plaza, Bhunava (Village), Gondal, Rajkot – 360311, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.07.2000 |
|
|
|
|
Com. Reg. No.: |
04-038435 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.850 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900GJ2000PTC038435 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
RKTT00405G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT6282F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Agricultural Equipment. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 an established company having satisfactory track record. Profitability of the company has declined during 2013. However, the reflect company’s established market position in the
tractor-drawn rotary tiller business segment supported by sound financial
base and fair liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually but correct. The company can be considered for business dealings at usual trade
terms and condition. Note: 23 AC documents for the year 2014 could not be made available
from any source. |
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 |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
July 04, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
July 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 DENIED BY
|
Name : |
Mr. Chalapaty Rao |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9909947199 |
|
Date : |
09.01.2015 |
LOCATIONS
|
Registered Office : |
Shaktiman, Survey No.-108/1, Plot No. B, NH-8B, Near Bharudi Toll
Plaza, Bhunava (Village), Gondal, Rajkot – 360311, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No : |
91-9909947199 (Mr. Rao) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office/ Factory: |
At- Bhunava, N.H.-27, Gondal, Rajkot – 360311, Gujarat,
India. |
|
|
|
|
Correspondence Office: |
Near Hotel Kirshna Park, N.H. 27, Vavdi, Rajkot – 360004, Gujarat, India |
|
Tel. No.: |
91-2827-661637 / 270446 / 270447 / 270537 |
|
Fax No.: |
91-2827-270457 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Also Located at · Gujarat · Rajkot · Rajsthan · Maharashtra · Karnatak · Punjab · Haryana · Madhya Pradesh · Tamilnadu · Uttara Khand · Uttar Pradesh · Bihar · Jharkhand · Chhatishgarh · Orissa · Andhra Pradesh · West Bengal ·
Aasam |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Hasmukhbhai Gatorbhai Gohil |
|
Designation : |
Director |
|
Address : |
3, Marutinagar,
Kevalam Apartment, 3rd Floor, 304, Airport Road, Rajkot-360003,
Gujarat, India |
|
Date of Birth : |
22.12.1975 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
26.07.2000 |
|
PAN No.: |
AERPG2922G |
|
DIN : |
00619221 |
|
|
|
|
Name : |
Mr. Ashwin Gatorbhai Gohil |
|
Designation : |
Director |
|
Address : |
401, Atul Appartment,
4, Ramkrishna Nagar, Dr. Yagni K Road, Rajkot – 360002, Gujarat, India |
|
Date of Birth : |
08.12.1973 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
26.07.2000 |
|
PAN No.: |
ADSPG6669G |
|
DIN : |
00619253 |
KEY EXECUTIVES
|
Name : |
G Chalapathi Rao |
|
Designation : |
Secretary |
|
Address : |
104, Ruby Appartment, Sun City, Sadhu Vasvani Road, Rajkot – 360005,
Gujarat, India |
|
Date of Birth/Age : |
10.01.1963 |
|
Date of Appointment : |
18.06.2012 |
|
PAN No.: |
ADGPC8303F |
|
|
|
|
Name : |
Mr. Chalapaty Rao |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
Ashwin Gohil |
804000 |
54.14 |
|
Hasmukhbhai Gohil |
656000 |
44.18 |
|
Gatorbhai Ladhubhai Gohil |
25000 |
1.68 |
|
Total |
1485000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Agricultural Equipment. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Kalaria and Sampat Chartered Accountants |
|
Address : |
302-305, Star Avenue, Dr. Radhakrishna Road, Opposite Rajkumar College, Rajkot - 360001, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK2045F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1650000 |
Equity Shares |
Rs.10/- each |
Rs. 16.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1485000 |
Equity Shares |
Rs.10/- each |
Rs. 14.850
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
14.850 |
14.850 |
14.850 |
|
(b) Reserves & Surplus |
654.397 |
505.090 |
185.111 |
|
(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) |
669.247 |
519.940 |
199.961 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
675.399 |
562.629 |
273.806 |
|
(b) Deferred tax liabilities (Net) |
28.658 |
33.332 |
24.436 |
|
(c) Other long term
liabilities |
89.162 |
70.545 |
0.910 |
|
(d) long-term
provisions |
0.607 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
793.826 |
666.506 |
299.152 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
583.935 |
469.737 |
208.879 |
|
(b) Trade
payables |
311.019 |
446.572 |
268.253 |
|
(c) Other
current liabilities |
374.015 |
268.254 |
145.438 |
|
(d) Short-term
provisions |
54.011 |
151.288 |
22.012 |
|
Total Current
Liabilities (4) |
1322.980 |
1335.851 |
644.582 |
|
|
|
|
|
|
TOTAL |
2786.053 |
2522.297 |
1143.695 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1007.964 |
837.446 |
491.886 |
|
(ii)
Intangible Assets |
11.581 |
9.791 |
0.000 |
|
(iii)
Capital work-in-progress |
128.251 |
187.251 |
18.348 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(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 |
32.067 |
29.560 |
61.114 |
|
(e) Other
Non-current assets |
2.827 |
11.308 |
3.416 |
|
Total Non-Current
Assets |
1182.690 |
1075.356 |
574.764 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
361.511 |
563.272 |
277.108 |
|
(c) Trade
receivables |
945.106 |
811.029 |
253.916 |
|
(d) Cash
and cash equivalents |
268.013 |
57.994 |
22.051 |
|
(e)
Short-term loans and advances |
28.733 |
14.646 |
15.856 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1603.363 |
1446.941 |
568.931 |
|
|
|
|
|
|
TOTAL |
2786.053 |
2522.297 |
1143.695 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
4021.400 |
4477.500 |
2545.300 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
533.200 |
705.800 |
219.000 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
150.000 |
91.500 |
23.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
383.200 |
614.300 |
195.300 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
171.200 |
127.400 |
57.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
212.000 |
487.000 |
137.400 |
|
|
|
|
|
|
|
|
|
|
TAX |
63.600 |
167.000 |
46.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
148.400 |
320.000 |
91.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
58.843 |
131.700 |
21.915 |
|
|
TOTAL EARNINGS |
58.843 |
131.700 |
21.915 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
6.223 |
|
|
|
Spares |
0.000 |
0.000 |
47.628 |
|
|
|
Capital Goods |
14.790 |
128.757 |
0.000 |
|
|
|
Others Purchases |
44.143 |
111.843 |
68.738 |
|
|
TOTAL IMPORTS |
58.933 |
240.600 |
122.589 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
99.93 |
215.47 |
66.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
3.69
|
7.14 |
3.59 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
13.25
|
15.76 |
8.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.98
|
20.86
|
12.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.94
|
0.69 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.88
|
1.99
|
2.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.08
|
0.88 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
14.85 |
14.850 |
14.850 |
|
Reserves & Surplus |
185.111 |
505.090 |
654.397 |
|
Net worth |
199.961 |
519.940 |
669.247 |
|
|
|
|
|
|
long-term borrowings |
273.806 |
562.629 |
675.399 |
|
Short term borrowings |
208.879 |
469.737 |
583.935 |
|
Total borrowings |
482.685 |
1032.366 |
1259.334 |
|
Debt/Equity ratio |
2.414 |
1.986 |
1.882 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2545.300 |
4477.500 |
4021.400 |
|
|
|
75.912 |
(10.186) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2545.300 |
4477.500 |
4021.400 |
|
Profit |
91.500 |
320.000 |
148.400 |
|
|
3.59% |
7.15% |
3.69% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
208.954 |
105.812 |
33.515 |
|
|
|
|
|
|
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) |
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 |
No |
|
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 |
OPERATIONS
The Financial year 2012-13 was challenging for your company with growth slowing down in the agricultural sector. The GDP of the Indian economy stood at 5.6% with agriculture contributing about 2%. Power tillers industry, the flagship product of your company, witnessed 18% de-growth as this sector relies heavily on monsoon as well as Government subsidies and implementation of State led incentive schemes. The below normal monsoon across India, especially in Gujarat and Maharashtra where your company commands a major share resulted in lower sales.
Against these challenging time and despite of growing Competition, your company has maintained its performance reflecting marginal fall in Revenue from Operation by 10%, to Rs. 4021.400 Millions during the year under review from Rs. 4477.500 Millions in the previous year.
Consequent to this maintainable performance, the Profit for the year before Depreciation, Finance costs and Taxes recorded a decrease of 2.51% as a percentage to revenue from operations from 15.76% to 13.26%, at Rs. 533.200 Millions as against Rs. 705.800 Millions in the previous year, and Due to high Finance Cost and Deprecation Net profit after tax is also decreased to Rs. 148.400 Millions as against Rs. 320.000 Millions in the previous year.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10535230 |
27/10/2014 |
90,000,000.00 |
State Bank of India |
Noble House, Kalavad Road, Rajkot, Rajkot, Gujarat - 360005, INDIA |
C36156230 |
|
2 |
10524805 |
13/10/2014 |
13,000,000.00 |
CORPORATION BANK |
SME BRANCH, 101,
GAYATRI COMMERCIAL CENTRE,, OPP. |
C28359461 |
|
3 |
10519887 |
13/09/2014 |
30,000,000.00 |
BANK OF BARODA |
2/12 BHAKTINAGAR
STATION PLOT, Rajkot, Gujarat - 3 |
C20577540 |
|
4 |
10515090 |
17/07/2014 |
25,000,000.00 |
Small Industries Development Bank of India |
1st Floor, Nirmal- 7, Ramakrishnanagar Corner, Opp. Commissioner Bungalow, Off. Yagnik Road,, Rajkot, Gujarat - 360001, INDIA |
C16517070 |
|
5 |
10476277 |
25/01/2014 |
1,650,000.00 |
Axis Bank Limited |
Asset Sale Centre, 1st floor, Pearl Plaza,, Behind G T Sheth School, 150 ft Ring Road, Rajkot, Gujarat - 360005, INDIA |
B95781704 |
|
6 |
10453953 |
21/09/2013 |
1,644,000.00 |
Axis Bank Limited |
Asset Sale Centre, 1st floor, Pearl Plaza,, Behind G T Sheth School, 150 ft Ring Road, Rajkot, Gujarat - 360005, INDIA |
B87060844 |
|
7 |
10275695 |
31/03/2011 |
30,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
1ST FLOOR, NIRMAL,
7, RAMKRISHNANAGAR CORNER, OP |
B09096686 |
|
8 |
10278642 |
29/03/2011 |
100,000,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE
SME BRANCH, 2/12, BHAKTINAGAR S |
B10135150 |
|
9 |
10278641 |
25/03/2014 * |
1,575,500,000.00 |
BANK OF BARODA |
BANK OF BARODA,
2/12, BHAKTINAGAR STATION PLOT,, |
C02776045 |
|
10 |
10281615 |
25/03/2014 * |
1,575,500,000.00 |
BANK OF BARODA |
BANK OF BARODA,
2/12, BHAKTINAGAR STATION PLOT,, |
C02776490 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
37.273 |
62.371 |
|
Total |
37.273 |
62.371 |
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Computer Equipments
· Office Equipment
· Other Equipments
v Intangible assets
· Brands and Trade Marks
· 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.62.39 |
|
|
1 |
Rs.94.16 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.