MIRA INFORM REPORT
|
Report No. : |
304491 |
|
Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAVI TECHNOFORGE PRIVATE LIMITED (w.e.f.19.05.2009) |
|
|
|
|
Formerly Known
As : |
SAURASHTRA IRON FORGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S. No. 50P/1,
Behind Toll Plaza, National Highway-27, Village Pipaliya, Taluka Kotda
Sangani, Gondal - 360311, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.02.1990 |
|
|
|
|
Com. Reg. No.: |
04-013398 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.244.915 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100GJ1990PTC013398 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTS01189G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS1608N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Bearing Races, Auto Parts and Other
Forged Components with CNC Finished Turning. |
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|
|
|
No. of Employees
: |
225 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Reserves of the company seems to be low during 2014. However, trade relations are fair. Business is active. Payment terms
are slow but correct. 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
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan (BB-) |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
May 2014 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non-fund based limits (A4) |
|
Rating Explanation |
Have minimal degree of safety carry very high credit risk. |
|
Date |
May 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
Management Non – Co-Operative (91-2827-252193)
LOCATIONS
|
Registered Office/ Factory 1 : |
S. No. 50P/1,
Behind Toll Plaza, National Highway-27, Village Pipaliya, Taluka Kotda
Sangani, Gondal - 360311, Gujarat, India |
|
Tel. No.: |
91-2827-234000/270425/6 |
|
Fax. No.: |
91-2827-234234/270425/6 |
|
E-Mail : |
amrutlal.bharadia@ravitechnoforge.com rajesh.bharadia@ravitechnoforge.com
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office/ Factory 2 : |
Survey No. 211, Plot No. 7/8, Veraval (Sharpar) Industrial Area, |
|
Tel. No.: |
91-2827-252193/ 252194/ 252463 |
|
Fax No.: |
91-2827-252894 |
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E-Mail : |
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|
Location : |
Owned |
DIRECTORS
As on: 22.09.2014
|
Name : |
Mr. Amrutlal Khimjibhai Bharadia |
|
Designation : |
Whole-time director |
|
Address : |
Ronak, 6, Ashtron Society, Plot - 131, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
17.10.1951 |
|
Date of Appointment : |
20.09.2011 |
|
PAN No.: |
ABPPB8021J |
|
DIN No.: |
00279153 |
|
|
|
|
Name : |
Mrs. Ranjanben Amrutlal Bharadia |
|
Designation : |
Whole-time director |
|
Address : |
Ronak, 6 Ashtron Society, Plot No. 131, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
26.10.1954 |
|
Date of Appointment : |
20.09.2011 |
|
PAN No.: |
ABPPB8083J |
|
DIN No.: |
00371426 |
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|
|
|
Name : |
Mr. Rajeshkumar Khimjibhai Bharadia |
|
Designation : |
Whole-time director |
|
Address : |
Raj, 138-Ashtron Society, Rajkot – 360001, Gujarat, India |
|
Date of Birth/Age : |
23.11.1973 |
|
Date of Appointment : |
20.09.2011 |
|
PAN No.: |
ABTPB8591M |
|
DIN No.: |
02016210 |
|
|
|
|
Name : |
Mrs. Kunjanben Rajeshkumar Bharadia |
|
Designation : |
Whole-time director |
|
Address : |
138, Ashtron Society, Road - 5, Near Kalawad Road, Rajkot - 360005,
Gujarat, India |
|
Date of Birth/Age : |
01.06.1976 |
|
Date of Appointment : |
20.09.2011 |
|
PAN No.: |
ACDPB3678E |
|
DIN No.: |
02081240 |
|
|
|
|
Name : |
Mr. Senthilarumugam Thiruvadi |
|
Designation : |
Nominee Director |
|
Address : |
A3, 313 Sneha Apartment Gadavari Block, National Games Village,
Karamangala, Bangalore – 560047, Karnataka, India |
|
Date of Birth/Age : |
23.02.1956 |
|
Date of Appointment : |
27.12.2011 |
|
DIN No.: |
03431263 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2014
|
Names of Shareholders |
No. of Shares |
|
Amrutlal K Bharadia |
2224957 |
|
Shantilal Baradia |
83850 |
|
Jagdish Bharadia |
230475 |
|
Rajeshbhai Bharadia |
1885983 |
|
Rajanben Amrutlal Bharadia |
1191962 |
|
Hansaben Bharadia |
229750 |
|
Divyaben R. Trambadia |
1 |
|
Labhuben P. Trambadia |
1 |
|
Kunjanben Bharadia |
1066185 |
|
Amrutlal K Bharadia - HUF |
238072 |
|
Anjali haturvedi |
245750 |
|
Anitaben Bharaqdia |
219630 |
|
Chandravadan Gajjar |
50002 |
|
Harkant Popatlal Anadkat |
45001 |
|
Kirtiben V. Vadgama |
16300 |
|
Vasumatiben Vadgama |
20002 |
|
Vimalbhai Vadgama |
30052 |
|
Vrajlal Govindbhai Kharecha |
125001 |
|
Ishwarlal J. Jogani |
1 |
|
Jeevanlal J Jagani |
1 |
|
Canbank Venure Capital Fund Limited, India |
415944 |
|
|
|
|
TOTAL |
8318920 |
|
Names of Preference Shareholders |
No. of Shares |
|
|
|
|
Vakil Yadav |
1052530* |
|
Deepak Davde |
659750* |
|
Naresh Sonar |
500200* |
|
Canbank Venure Capital Fund Limited, India |
13960140** |
|
|
|
|
TOTAL |
16172620 |
Equity Share Break up (Percentage of Total Equity)
As on: 22.09.2014
|
Category |
Percentage |
|
Venture Capital |
5.00 |
|
Directors or relatives of Directors |
88.89 |
|
Other top fifty shareholders |
6.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Bearing Races, Auto Parts and Other
Forged Components with CNC Finished Turning. |
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Products : |
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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 Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
225 (Approximately) |
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Bankers : |
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Facilities : |
Note: Term loans from bank are secured by Equitable Mortgage of Factory land and Building, hypothecation of all plant and machineries. Term loans are repayable in 84 monthly installments of varying amounts and carried interest at 14.50%. Term loans from Non-banking finance companies are secured by hypothecation of company's motor vehicles. Such loans are for 3 years. Term loans from shareholders are secured by pledge of shares held by directors and personal guarantees given by directors. |
|
Financial
Institute: |
Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India |
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|
|
|
Auditors : |
|
|
Name : |
Ranpura Desai and Company Chartered Accountants |
|
Address : |
Star Avenue, 1st
Floor, Dr Radhakrishnan Road, Opposite Rajkumar College, Rajkot – 360001,
Gujarat, India |
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PAN
No. : |
AADFR3813P |
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|
|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs. 10/- each |
Rs.110.000 Millions |
|
16500000 |
Preference Shares |
Rs. 10/- each |
Rs.165.000 Millions |
|
|
TOTAL |
|
Rs. 275.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8318920 |
Equity Shares |
Rs. 10/- each |
Rs.83.189
Millions |
|
16172620 |
Preference Shares |
Rs. 10/- each |
Rs.161.726 Millions
|
|
|
TOTAL |
|
Rs.244.915 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 |
244.915 |
244.915 |
244.915 |
|
(b) Reserves & Surplus |
143.767 |
122.721 |
106.080 |
|
(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) |
388.682 |
367.636 |
350.995 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
456.167 |
314.871 |
266.557 |
|
(b) Deferred tax liabilities (Net) |
61.088 |
44.391 |
9.922 |
|
(c) Other long term
liabilities |
314.041 |
298.239 |
282.042 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
831.296 |
657.501 |
558.521 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
282.146 |
308.438 |
220.153 |
|
(b) Trade
payables |
139.376 |
156.734 |
122.255 |
|
(c) Other
current liabilities |
70.402 |
152.037 |
99.207 |
|
(d) Short-term
provisions |
16.879 |
14.850 |
9.596 |
|
Total Current
Liabilities (4) |
508.803 |
632.059 |
451.211 |
|
|
|
|
|
|
TOTAL |
1728.781 |
1657.196 |
1360.727 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1129.523 |
1045.456 |
390.953 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
12.018 |
48.709 |
492.885 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
7.962 |
66.742 |
60.814 |
|
Total Non-Current
Assets |
1149.503 |
1160.907 |
944.652 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
69.437 |
15.402 |
1.476 |
|
(b)
Inventories |
218.330 |
137.891 |
140.854 |
|
(c) Trade
receivables |
238.729 |
285.311 |
185.969 |
|
(d) Cash
and cash equivalents |
1.745 |
5.089 |
0.775 |
|
(e) Short-term
loans and advances |
26.015 |
46.503 |
82.392 |
|
(f) Other
current assets |
25.022 |
6.093 |
4.609 |
|
Total
Current Assets |
579.278 |
496.289 |
416.075 |
|
|
|
|
|
|
TOTAL |
1728.781 |
1657.196 |
1360.727 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
922.619 |
740.221 |
702.195 |
|
|
|
Other Income |
9.688 |
12.791 |
12.204 |
|
|
|
TOTAL |
932.307 |
753.012 |
714.399 |
|
|
|
|
|
|
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|
EXPENSES |
|
|
|
|
|
|
|
Decrease (Increase) In Stock |
(56.175) |
(25.663) |
(7.184) |
|
|
|
Other Expenses |
791.074 |
632.963 |
617.178 |
|
|
|
TOTAL EXPENSES |
734.899 |
607.300 |
609.994 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
197.408 |
145.712 |
104.405 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
91.697 |
80.862 |
47.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
105.711 |
64.850 |
56.935 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
54.483 |
(26.897) |
32.697 |
|
|
|
|
|
|
|
|
|
Less/ Add |
PRIOR PERIOD
ITEMS |
0.694 |
2.127 |
(1.003) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
50.534 |
89.620 |
25.241 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.207 |
52.669 |
10.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
41.327 |
36.951 |
14.732 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.97 |
4.44 |
1.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.48 |
4.99 |
2.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
21.40 |
19.68 |
14.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.94 |
5.57 |
2.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.24 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.90 |
1.70 |
1.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
0.79 |
0.92 |
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 |
244.915 |
244.915 |
244.915 |
|
Reserves & Surplus |
106.080 |
122.721 |
143.767 |
|
Net worth |
350.995 |
367.636 |
388.682 |
|
|
|
|
|
|
long-term borrowings |
266.557 |
314.871 |
456.167 |
|
Short term borrowings |
220.153 |
308.438 |
282.146 |
|
Total borrowings |
486.710 |
623.309 |
738.313 |
|
Debt/Equity ratio |
1.387 |
1.695 |
1.900 |
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 |
702.195 |
740.221 |
922.619 |
|
|
|
5.415 |
24.641 |
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 |
702.195 |
740.221 |
922.619 |
|
Profit |
14.732 |
36.951 |
41.327 |
|
|
2.10% |
4.99% |
4.48% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
34.177 |
107.655 |
81.853
|
|
|
|
|
|
|
Total |
34.177 |
107.655 |
81.853
|
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
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 |
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 |
Yes |
NOTE:
The registered office of the company has been shifted from Survey No. 211, Plot
No. 7/8, Veraval (Sharpar) Industrial Area, Rajkot Gondal Highway, Rajkot –
360024, Gujarat, India to present address w.e.f.29.09.2012
REVIEW OF OPERATION:
The board is pleased to inform that the previous financial year remained progressive in terms of sales and profitability, in spite of overall moderate economy. During the year, the company has achieved Total Net Revenue from operation of Rs. 932.300 Millions as compared to Rs. 753.000 Millions of the corresponding previous year. Net profit after tax was Rs. 41.300 Millions as compare to Rs. 36.900 Millions for the previous year. As a result of various measures and initiatives taken by the management for cost management, there has been an improvement in operating margins of the company.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Interoperate borrowing |
15.101 |
22.500 |
|
Loan and advance from related parties |
62.355 |
44.481 |
|
Other loan and advances (Term loans from shareholders are secured by pledge of shares held By directors and personal guarantees given by directors. |
3.015 |
6.932 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loan and advance from related parties |
10.165 |
10.165 |
|
|
|
|
|
Total |
90.636 |
84.078 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10413495 |
30/01/2013 |
1,260,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B71353197 |
|
2 |
10151620 |
27/12/2013 * |
1,012,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
NOBLE HOUSE, NEAR JALARAM PETROL PUMP, KALAWAD ROAD, RAJKOT, GUJARAT -
360001, INDIA |
B94647666 |
* Date of charge modification
FIXED ASSETS:
- Land
- Buildings
- Office
building
- Factory
building
- Plant and
equipment
- Other plant
and equipment
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
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.61.69 |
|
|
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
32 |
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.