MIRA INFORM REPORT
|
Report No. : |
303257 |
|
Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MXC SOLUTIONS INDIA PRIVATE LIMITED (w.e.f. 12.08.2009) |
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|
|
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Formerly Known
As : |
KAYMO FASTENER COMPANY PRIVATE LIMITED |
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Registered
Office : |
C/o Suraj Sanghi Service Centre, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.04.2000 |
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Com. Reg. No.: |
11-126237 |
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Capital
Investment / Paid-up Capital : |
Rs.114.151 millions |
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CIN No.: [Company Identification
No.] |
U74900MH2000PTC126237 |
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|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK19473G |
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PAN No.: [Permanent Account No.] |
AABCK6981G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of providing E-Commerce Solutions
(Online Websites). |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of continuous losses incurred by
the company. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow. The company can be considered for business dealings with some
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
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 (GENERAL DETAILS)
|
Name : |
Mr. Hemant |
|
Designation : |
Finance Department |
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Contact No.: |
91-22-61291700 |
|
Date : |
13.01.2015 |
LOCATIONS
|
Registered Office : |
C/o Suraj Sanghi Service Centre, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India |
|
Tel. No.: |
91-22-61291700/ 43535200 |
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Mobile No.: |
91-9819746847 (Mr. Alok Satishchandra Mittal) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
Lloyds Centre Point, 3rd Floor, Unit No.31 and 32, 1096A
Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India |
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|
|
Branch Office : |
Located at: ·
Delhi, India
|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vinay Vinod Sanghi |
|
Designation : |
Whole-time Director |
|
Address : |
20, Mistry Court, Dinshaw Vacha Road, Churchgate, Mumbai – 400 020,
Maharashtra, India |
|
Date of Birth/Age : |
08.05.1969 |
|
Qualificaiton : |
B. Com |
|
Experience : |
24 Years |
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Date of Appointment : |
06.07.2009 |
|
DIN No.: |
00309085 |
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|
|
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Name : |
Mr. Rajan Jitendra Mehra |
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Designation : |
Director |
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Address : |
5-A, Premkutir, 177, Marines Drives, Mumbai – 400 020, Maharashtra,
India |
|
Date of Birth/Age : |
19.02.1969 |
|
Date of Appointment : |
06.07.2009 |
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DIN No.: |
00504892 |
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|
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|
Name : |
Mr. Gaurav Vinod Saraf |
|
Designation : |
Nominee Director |
|
Address : |
Shreeram Bhavan, Ramdaspeth, Nagpur – 440 010, Maharashtra, India |
|
Date of Birth/Age : |
20.11.1978 |
|
Date of Appointment : |
16.12.2010 |
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DIN No.: |
00197231 |
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Name : |
Mr. Alok Satishchandra Mittal |
|
Designation : |
Director |
|
Address : |
C-902, Park View Spa, Near DPS Primary Wing, Sector 47, Gurgaon – 122
002, Haryana, India |
|
Date of Birth/Age : |
16.05.1972 |
|
Date of Appointment : |
16.12.2010 |
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DIN No.: |
01290103 |
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Name : |
Mr. Kalyan Raman Krishnapurthy |
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Designation : |
Nominee Director |
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Address : |
806, Thomson Road, #01-16 Thomson 800, Singapore, 298189, Singapore |
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Date of Birth/Age : |
12.01.1972 |
|
Date of Appointment : |
24.12.2013 |
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DIN No.: |
05138366 |
KEY EXECUTIVES
|
Name : |
Mr. Hemant |
|
Designation : |
Finance Department |
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|
|
|
Name : |
Mr. Dharmesh Dalpatsing Pardiwala |
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Designation : |
Secretary |
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Address : |
203, Shanti-Vihar, B-2, Near Hardik Palace Hote, Mira Road (East),
Thane – 401 104, Maharashtra, India |
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Date of Birth/Age : |
11.12.1988 |
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Date of Appointment : |
26.03.2013 |
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PAN No.: |
AUKPP2041A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Vinay Vinod Sanghi jointly with Seena Vinay Sanghi |
|
450050 |
|
Bina Vinod Sanghi jointly with Vinay Vinod Sanghi |
|
450000 |
|
Viraj Vinod Sanghi jointly with Niki Viraj Sanghi |
|
50000 |
|
Vinti Rajesh Gajree jointly with Rajesh Rajkumar Gajree |
|
50000 |
|
Arun Sinha |
|
75000 |
|
Akshay Shankar |
|
100000 |
|
Austin Ligon |
|
192730 |
|
Steve Greenfield, USA |
|
25350 |
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Dan Edward Neary, Singapore |
|
50000 |
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Canaan VIII Mauritius, Mauritius |
|
100 |
|
Canaan VIII Mauritius, Mauritius |
|
200 |
|
Epiphany Overseas Ventures, Mauritius |
|
100 |
|
Shree Krishna Trust, India |
|
1000050 |
|
Tiger Global Six India II Holdings, Mauritius |
|
611881 |
|
Total |
|
3055461 |
AS ON 30.09.2014
|
Names of Shareholders (Preferences Shares) |
|
No. of Shares |
|
Canaan VIII Mauritius, Mauritius |
|
4465171 |
|
Austin Ligon |
|
79300 |
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Daniel Edward Neary |
|
20000 |
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Tiger Global Six India II Holdings, Mauritius |
|
2409943 |
|
Epiphany Overseas Ventures, Mauritius |
|
1385228 |
|
Total |
|
8359642 |
AS ON 09.10.2014
|
Names of Allottee (Equity Shares) |
|
No. of Shares |
|
Highdell Investment Limited, Mauritius |
|
100 |
|
Total |
|
100 |
AS ON 09.10.2014
|
Names of Allottees (Preferences Shares) |
|
No. of Shares |
|
Highdell Investment Limited, Mauritius |
|
4549018 |
|
Tiger Global Six India II Holdings, Mauritius |
|
707641 |
|
Canaan VIII Mauritius, Mauritius |
|
707641 |
|
Total |
|
5964300 |
AS ON 22.10.2014
|
Names of Allottee (Equity Shares) |
|
No. of Shares |
|
Victor A Perry III, Atlanta |
|
101092 |
|
Total |
|
101092 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
28.81 |
|
Directors
or relatives of directors |
|
32.73 |
|
Other
top fifty shareholders |
|
38.46 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing E-Commerce Solutions
(Online Websites). |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS –
NOT APPLICABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Tower 3, 27th-32nd Floor,
Indiabulls Finance Centre, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone
(West), Mumbai – 400 013, Maharashtra, India |
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PAN
No.: |
AACFD4815A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises over which key management personnel is able to exercise significant
influence : |
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CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6200000 |
Equity Shares |
Rs.10/- each |
Rs.62.000 millions |
|
15200000 |
Preference Shares |
Rs.10/- each |
Rs.152.000 millions |
|
|
Total
|
|
Rs.214.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3156653 |
Equity Shares |
Rs.10/- each |
Rs.31.567 millions |
|
14323942 |
Preference Shares |
Rs.10/- each |
Rs.143.239 millions |
|
|
Total
|
|
Rs.174.806
millions |
|
|
|
|
|
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6200000 |
Equity Shares |
Rs.10/- each |
Rs.62.000 millions |
|
15200000 |
Preference Shares |
Rs.10/- each |
Rs.152.000 millions |
|
|
Total
|
|
Rs.214.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3055461 |
Equity Shares |
Rs.10/- each |
Rs.30.555 millions |
|
8359642 |
Preference Shares |
Rs.10/- each |
Rs.83.596 millions |
|
|
Total
|
|
Rs.114.151
millions |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
8800000 |
Preference Shares |
Rs.10/- each |
Rs.88.000 millions |
|
|
Total
|
|
Rs.138.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3055461 |
Equity Shares |
Rs.10/- each |
Rs.30.555 millions |
|
8359642 |
Preference Shares |
Rs.10/- each |
Rs.83.596 millions |
|
|
Total
|
|
Rs.114.151
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 |
114.151 |
114.151 |
114.151 |
|
(b) Reserves & Surplus |
395.926 |
509.484 |
620.623 |
|
(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) |
510.077 |
623.635 |
734.774 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
29.057 |
17.706 |
14.762 |
|
(d) Long-term
provisions |
3.557 |
2.763 |
1.751 |
|
Total Non-current Liabilities
(3) |
32.614 |
20.469 |
16.513 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
20.707 |
19.770 |
8.605 |
|
(c) Other current
liabilities |
6.016 |
3.770 |
2.574 |
|
(d) Short-term
provisions |
0.152 |
0.053 |
0.124 |
|
Total Current
Liabilities (4) |
26.875 |
23.593 |
11.303 |
|
|
|
|
|
|
TOTAL |
569.566 |
667.697 |
762.590 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3.927 |
2.620 |
2.220 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.502 |
7.126 |
5.128 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
11.429 |
9.746 |
7.348 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
507.054 |
634.106 |
741.281 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
22.642 |
16.245 |
8.843 |
|
(d) Cash
and cash equivalents |
11.775 |
1.742 |
2.900 |
|
(e)
Short-term loans and advances |
16.666 |
5.858 |
2.218 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
558.137 |
657.951 |
755.242 |
|
|
|
|
|
|
TOTAL |
569.566 |
667.697 |
762.590 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
111.295 |
53.745 |
41.478 |
|
|
|
Other Income |
53.448 |
59.867 |
32.672 |
|
|
|
TOTAL (A) |
164.743 |
113.612 |
74.150 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
276.919 |
223.763 |
99.695 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
276.919 |
223.763 |
99.695 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(112.176) |
(110.151) |
(25.545) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
0.139 |
0.100 |
0.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(112.315) |
(110.251) |
(25.621) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.243 |
0.889 |
0.759 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(113.558) |
(111.140) |
(26.380) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(113.558) |
(111.140) |
(26.380) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(183.604) |
(72.464) |
(46.084) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(297.162) |
(183.604) |
(72.464) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(37.17) |
(36.37) |
(8.63) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(102.03) |
(206.79) |
(63.60) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
(100.79) |
(204.95) |
(61.59) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.94) |
(16.65) |
(3.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22) |
(0.18) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
20.77 |
27.89 |
66.82 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
114.151 |
114.151 |
114.151 |
|
Reserves & Surplus |
620.623 |
509.484 |
395.926 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
734.774 |
623.635 |
510.077 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Turnover |
41.478 |
53.745 |
111.295 |
|
|
|
29.575 |
107.080 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Turnover |
41.478 |
53.745 |
111.295 |
|
Profit |
(26.380) |
(111.140) |
(113.558) |
|
|
(63.60%) |
(206.79%) |
(102.03%) |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 |
CORPORATE INFORMATION
Subject commenced
operations in August 2009. The Company runs CarTrade.com an online auto
classifieds and content site and Car Trade Exchange, which helps new and used
car dealers to run their business.
OPERATIONS:
During the year, the company has continued the business of selling,
marketing and providing software solutions to automotive dealers and also
signed numerous agreements with the institutional sellers of vehicles and
enlisted the buyers to bid for the vehicles.
As seen from the above figures the income received by the company showed
an appreciable increase from Rs.53.745 millions to Rs.111.295 millions.
INDEX OF CHARGES
No Charges Exist for Company.
FIXED ASSETS:
· Furniture and Fixtures
· Office Equipment
· Computer Equipments
· Other Equipments
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.62.10 |
|
|
1 |
Rs.94.10 |
|
Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
-- PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
29 |
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.