MIRA INFORM REPORT
|
Report No. : |
303399 |
|
Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIDYA WIRES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
123/B, G.I.D.C, Vithal Udyognagar, Vallabh Vidyanagar, Anand – 388
121, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.12.1981 |
|
|
|
|
Com. Reg. No.: |
04-004879 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300GJ1981PTC004879 |
|
|
|
|
IEC No.: |
3495003843 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDV00647D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV9327L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is producer of Insulated Copper Conductors like
Enameled Copper Winding Wire/Magnet Wires, Paper/ Nomex/ Mica/ Fibre glass
covered Rectangular and Round Conductors. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having moderate track record. As per registrar of
companies the date of balance sheet (i.e. financial filed) is shown as
31.03.2014 but the documents related to financials are not available from any
source. As per available
financial record of 2013, the rating is constrained on account of company’s moderate
risk profile marked by thin profitability margins and leverage capital
structure of the company. However, trade
relations are fair. Business is active. Payments are reported to be slow but
correct. The company can
be considered for business dealing 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.
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-term Rating: BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
27.11.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
27.11.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Saji |
|
Designation : |
Marketing Officer |
|
Contact No.: |
91-9427312056 |
|
Date : |
14.01.2015 |
LOCATIONS
|
Registered Office/ Unit 1 : |
123/B, G.I.D.C, Vithal Udyognagar, Vallabh Vidyanagar, Anand – 388 121,
Gujarat, India |
|
Tel. No.: |
91-2692-236125/ 326550/ 231891 |
|
Mobile No.: |
91-9427312056 (Mr. Saji) |
|
Fax No.: |
91-2692-236635 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Unit 2 : |
Plot No.9/A-6, G.I.D.C.,
Vithal Udyognagar, Anand – 388 121, Gujarat, India |
|
|
|
|
Unit 3 : |
Plot No.8/1-2, G.I.D.C.,
Vithal Udyognagar, Anand – 388 121, Gujarat, India |
|
|
|
|
Branch Office 1 : |
30/10, Sai Deep, J.B. Nagar, Andheri (East), Mumbai, Maharashtra,
India |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
402/A8, Kumar Primavera, 55, Vadgaonsheri, Pune – 400 014,
Maharashtra, India |
|
E-Mail : |
DIRECTORS
AS ON 15.09.2014
|
Name : |
Mr. Shyamsundar Balaram Rathi |
|||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||
|
Address : |
“Madhuram”, Shatri Marg, Vallabh Vidyanagar, Anand – 388 120, Gujarat,
India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.12.1948 |
|||||||||||||||||||||||||||
|
Qualification : |
B.Com |
|||||||||||||||||||||||||||
|
Date of Appointment : |
11.12.1981 |
|||||||||||||||||||||||||||
|
DIN No. : |
00410015 |
|||||||||||||||||||||||||||
|
PAN No.: |
AANPR6796B |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Shailesh Shyamsundar Rathi |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
“Madhuram”, Opposite Kanudo Apartment, Near Shantaba Park, Vallabh
Vidyanagar, Anand – 388 120, Gujarat, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.11.1973 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.06.2010 |
|||||||||||||||||||||||||||
|
DIN No. : |
02941335 |
|||||||||||||||||||||||||||
|
PAN No.: |
ACVPR8510R |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Saji |
|
Designation : |
Marketing Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Shyamsunder Balaram Rathi |
|
1773500 |
|
Brijlata Shyamsunder Rathi |
|
155500 |
|
Chhaganlal Balaram Rathi |
|
200 |
|
Nirmala Chhaganlal Rathi |
|
300 |
|
Balaram Shyamsunder Rathi (HUF) |
|
72750 |
|
Balaram Chhaganlal Rathi (HUF) |
|
7000 |
|
Shailesh Shyamsunder Rathi |
|
1875500 |
|
Shyamsunder Rathi (HUF) |
|
60000 |
|
Shilpa Shailesh Rathi |
|
5250 |
|
Shailesh Rathi (HUF) |
|
50000 |
|
Total |
|
4000000 |
AS ON 15.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is producer of Insulated Copper Conductors like
Enameled Copper Winding Wire/Magnet Wires, Paper/ Nomex/ Mica/ Fibre glass
covered Rectangular and Round Conductors. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the Management. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
Oriental Bank of Commerce, Sardargunj, Anand – 388 001, Gujarat, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. D. Parikh and Company Chartered Accountants |
|
Address : |
Opposite Uco Park, Vallabh Vidyanagar, Anand, Gujarat, India |
|
PAN
No.: |
ADOPP8540K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
Bhagwat Wire Industries, India |
CAPITAL STRUCTURE
AS ON 15.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 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 |
40.000 |
40.000 |
30.000 |
|
(b) Reserves & Surplus |
83.254 |
77.304 |
72.537 |
|
(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) |
123.254 |
117.304 |
102.537 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
173.195 |
195.886 |
133.284 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
173.195 |
195.886 |
133.284 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
115.939 |
147.731 |
80.688 |
|
(b) Trade
payables |
92.049 |
77.155 |
35.143 |
|
(c) Other
current liabilities |
3.904 |
2.756 |
10.244 |
|
(d) Short-term
provisions |
1.350 |
1.078 |
8.600 |
|
Total Current
Liabilities (4) |
213.242 |
228.720 |
134.675 |
|
|
|
|
|
|
TOTAL |
509.691 |
541.910 |
370.496 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
188.845 |
202.914 |
142.868 |
|
(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 |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
188.850 |
202.919 |
142.873 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
91.838 |
128.761 |
68.391 |
|
(c) Trade
receivables |
179.111 |
159.295 |
126.352 |
|
(d) Cash
and cash equivalents |
19.526 |
17.659 |
16.775 |
|
(e)
Short-term loans and advances |
30.366 |
33.276 |
16.105 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
320.841 |
338.991 |
227.623 |
|
|
|
|
|
|
TOTAL |
509.691 |
541.910 |
370.496 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Turnover |
1866.800 |
1896.900 |
1255.100 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
29.968 |
23.527 |
39.922 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.711 |
17.682 |
4.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7.257 |
5.845 |
35.676 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.307 |
1.078 |
8.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.950 |
4.767 |
27.076 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
76.721 |
71.954 |
44.878 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
82.671 |
76.721 |
71.954 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
142.800 |
111.300 |
85.600 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
14.88 |
11.92 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.32 |
0.25 |
2.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.42 |
1.08 |
9.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.05 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.35 |
2.93 |
2.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50 |
1.48 |
1.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
30.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
72.537 |
77.304 |
83.254 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
102.537 |
117.304 |
123.254 |
|
|
|
|
|
|
Long Term borrowings |
133.284 |
195.886 |
173.195 |
|
Short Term borrowings |
80.688 |
147.731 |
115.939 |
|
Total borrowings |
213.972 |
343.617 |
289.134 |
|
Debt/Equity ratio |
2.087 |
2.929 |
2.346 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales Turnover |
1,255.100 |
1,896.900 |
1,866.800 |
|
|
|
51.135 |
-1.587 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales Turnover |
1,255.100 |
1,896.900 |
1,866.800 |
|
Profit |
27.076 |
4.767 |
5.950 |
|
|
2.16% |
0.25% |
0.32% |
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 |
Yes |
|
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
WORKING RESULTS:
The company has achieved Sales turnover of Rs.1866.800 millions (including
export sales Rs.164.800 millions) for the year 2012-13 as against Rs.1896.900
millions (including export sales of Rs.111.300 millions) during previous year.
However, the net profit for the year is higher Rs.5.900 millions as against
Rs.4.800 millions for the previous year. The profitability was not on the
expected line and the same was affected due to the reason of underutilization
of installed capacity due to slackness in demand from user Industries. High
Interest rates, increase in cost of their primary products, power and fuel,
substantial volatility in the foreign exchange and higher wages has affected
the profitability of the company during the year. They are optimistic about the
future growth in the sector due to the reason that their country is power
deficit. India will require to increase its electricity generation capacity by
at least four times within the next twenty years to be able to achieve the
projected annual GDP growth of 7%. This will lead to increase substantial
demand from Electrical Equipment manufacturing sector. Moreover, the company
continues to give more emphasis on direct physical export of the products. The
directors are hopeful of better results during the year 2013-2014.
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from shareholders |
75.000 |
70.500 |
|
Total |
75.000 |
70.500 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10300175 |
14/07/2011 |
60,000,000.00 |
ORIENTAL BANK OF COMMERCE |
ANAND BRANCH, BALIA KAKA
ROAD, SARDARGUNJ, ANAND, |
B18067041 |
|
2 |
10227288 |
05/02/2014 * |
130,000,000.00 |
IDBI BANK LIMITED |
1ST FLOOR, GARG PLAZA,
46-A, GAUTAM NAGAR, NEAR MGVCL BUILDING, RACE COURSE, BARODA, GUJARAT -
390007, INDIA |
B96511894 |
|
3 |
10227289 |
09/07/2010 |
90,000,000.00 |
IDBI BANK LIMITED |
1ST FLOOR, GARG PLAZA,
46-A, GAUTAM NAGAR, NEAR MGVCL BUILDING, RACE COURSE, BARODA, GUJARAT -
390007, INDIA |
A89043632 |
|
4 |
10090740 |
03/09/2007 |
2,300,000.00 |
ORIENTAL BANK OF COMMERCE |
SARDARGUNJ, ANAND,
GUJARAT - 388001, INDIA |
A23854441 |
|
5 |
10068557 |
09/08/2007 |
10,400,000.00 |
ORIENTAL BANK OF COMMERCE |
SARDARGUNJ, ANAND,
GUJARAT - 388001, INDIA |
A23854722 |
|
6 |
10039613 |
15/01/2007 |
1,000,000.00 |
ORIENTAL BANK OF COMMERCE |
SARDAR GUNJ, ANAND, GUJARAT
- 388001, INDIA |
A11573706 |
|
7 |
10012478 |
03/07/2006 |
3,000,000.00 |
ORIENTAL BANK OF COMMERCE |
SARDARGUNJ, ANAND,
GUJARAT - 388001, INDIA |
A02488211 |
|
8 |
80007673 |
14/08/2014 * |
285,000,000.00 |
ORIENTAL BANK OF COMMERCE |
BALIAKAKA ROAD,
SARDARGUNJ, ANAND, GUJARAT - 388001, INDIA |
C19765577 |
|
9 |
80007412 |
14/08/2014 * |
515,000,000.00 |
ORIENTAL BANK OF COMMERCE |
SARDARGUNJ, ANAND,
GUJARAT - 388001, INDIA |
C16325243 |
* Date of charge modification
CONTINGENT LIABILITIES
(AS ON 31.03.2013):
·
Contingent liability in respect of sales bills
discounted under L/C Rs.15.739 millions with banks.
Fixed Assets:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fittings
·
Office Equipments
·
Vehicles
·
Computers
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.61.76 |
|
|
1 |
Rs.94.02 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
-- PROFITABILITY |
1~10 |
3 |
|
--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 |
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 |
|
28 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.