MIRA INFORM REPORT
|
Report No. : |
295676 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHESH EXTRUSIONS LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 2A, Kiadb Industrial Area, Mundarji , Bellary – 583102,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.01.1991 |
|
|
|
|
Com. Reg. No.: |
08-011614 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.11.401 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1991PLC011614 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A closely held public limited liability company. |
|
|
|
|
Line of Business
: |
Manufacturer, Supplier, Importer and Exporter of Mahesh Brand UPVC
PIPES, Ring Title Pipes, HDPE Pipes, UGD Pipes, Plumbing Pipes, Casing
PVC Pipes and SIRI Brand title Grout, Wall Putty, Tile Adhesive, Construction
Chemicals, Water Proof Compound, Epoxy Resins, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limits : |
USD 125000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management of the company has not filed its latest financial i.e. 2014
with the government department. As per available financial of 2013, borrowings recorded by the company
are huge. However, trade relations are reported as fair. Business is active. Payments
terms are reported to be 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.
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 = B- |
|
Rating Explanation |
High risk of default |
|
Date |
05.05.2014 |
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 PARTED DENIED BY
|
Name : |
Mr. Mahesh Avva |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9448015087 |
|
Date : |
10.01.2015 |
LOCATIONS
|
Registered Office/Factory : |
Plot No. 2A, Kiadb Industrial Area, Mundarji , Bellary – 583102,
Karnataka, India |
|
Tel. No.: |
91-8392-250139 |
|
Mobile No.: |
91-9448015087 (Mr. Mahesh
Avva) |
|
Fax No.: |
91-8392-250139 / 250101 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Mahesh Avva |
|
Designation : |
Managing Director |
|
Address : |
House No. 851/B, 2nd Cross, Gandhinagar, Bellary – 583103,
Karnataka, India |
|
Date of Birth/Age : |
13.03.1985 |
|
Date of Appointment : |
20.10.2012 |
|
DIN No.: |
02051379 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51495KA1999PTC025567 |
APOORVA PIPES
PRIVATE LIMITED |
Whole-time
director |
29/09/2012 |
20/08/2012 |
- |
Active |
NO |
|
2 |
U85110KA1991PLC011614 |
MAHESH
EXTRUSIONS LIMITED |
Managing
director |
20/10/2012 |
10/09/2012 |
- |
Active |
NO |
|
Name : |
Mr. Prasad Setty Avva |
|
Designation : |
Whole-Time Director |
|
Address : |
Plot No.85, 2nd Cross, Gandhinagar, Bellary – 583103,
Karnataka, India |
|
Date of Birth/Age : |
01.06.1955 |
|
Date of Appointment : |
01.10.2011 |
|
DIN No.: |
00230854 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U85110KA1991PLC011614 |
MAHESH
EXTRUSIONS LIMITED |
Whole-time
director |
01/10/2011 |
29/01/1991 |
- |
Active |
NO |
|
2 |
U51495KA1999PTC025567 |
APOORVA PIPES
PRIVATE LIMITED |
Director |
06/08/1999 |
06/08/1999 |
- |
Active |
NO |
|
3 |
U27104KA2004PLC034136 |
MAHESH SPONGE
IRON AND POWER LIMITED |
Director |
16/06/2004 |
16/06/2004 |
31/10/2006 |
Active |
NO |
|
4 |
U85110KA1999PTC024820 |
BCITS PRIVATE
LIMITED |
Director |
01/10/2004 |
01/10/2004 |
24/06/2013 |
Active |
NO |
|
5 |
U74994KA2006PTC040445 |
ZYCOMM
INNOVATIONS PRIVATE LIMITED |
Director |
08/09/2006 |
08/09/2006 |
14/02/2013 |
Active |
NO |
|
6 |
U45203AP2007PTC053316 |
LEAD
INFRASTRUCTURE PROJECTS PRIVATE LIMITED |
Director |
11/05/2008 |
11/05/2008 |
- |
Active |
NO |
|
Name : |
Mr. Nannuru Mahendra Eshwara Prasad |
|
Designation : |
Director |
|
Address : |
Plot No. 406-407, MAITHRI Apartments, Judge Colony, M F Extension R T
Nagar, Bangalore – 560032, Karnataka, India |
|
Date of Birth/Age : |
01.07.1955 |
|
Date of Appointment : |
28.09.1994 |
|
DIN No.: |
02051169 |
KEY EXECUTIVES
|
Name : |
Krishnamurthy and Vijayanagar |
|
Designation : |
Company Secretary |
|
Address : |
Sri Krishna Mahal 53/1, West Anjaneya Temple Street, Gandhi Bazaar,
Basavanagudi, Bengluru – 560004, Karnataka, India |
|
Tel. No.: |
91-839-26614323 / 26612866 |
|
Mobile No.: |
91-9448513473 |
|
Email: |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
A Prasad Setty |
250600 |
|
A Hima Kumari |
91000 |
|
A Pranathi |
99500 |
|
A Madhuri |
100700 |
|
A Mahesh |
351100 |
|
A Sreedhar Gupta |
31500 |
|
Gunda Subramanya |
20000 |
|
Anwar Hussain |
4500 |
|
H M Ravindra Swamy |
4500 |
|
H K Venkatesha Rao |
30000 |
|
H K Brunda |
10000 |
|
G K Jagdesh |
4000 |
|
T Nagendra |
4000 |
|
K Nagaraja |
10000 |
|
K Vani |
4000 |
|
M R Krishna Rangaiah |
9000 |
|
Sreelakshmi |
4500 |
|
S Nagamani |
10000 |
|
T Munieshawarchar |
10000 |
|
T Saroja |
4500 |
|
Sreenivasa Gupta |
8000 |
|
Sreenivasa Rao |
15000 |
|
V Krishna |
4500 |
|
C Pompanna |
10000 |
|
G Mruthinajaya |
4500 |
|
G Adeppa |
6500 |
|
S Somanatha |
10000 |
|
P Sreenivasalu |
5000 |
|
P Sreedevi |
4500 |
|
Ashoka Jain |
100 |
|
Padamavathi |
100 |
|
Prethi |
1000 |
|
Kreethi |
800 |
|
Ramesh Babu |
100 |
|
Eshwar Prasad |
16600 |
|
|
|
|
Total |
1140100 |
AS ON 30.09.2013
|
Category |
Percentage of Holding |
|
Directors or relatives of directors |
92.00 |
|
Other top fifty (50) shareholders (other than listed above) |
8.000 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Supplier, Importer and Exporter of Mahesh Brand UPVC
PIPES, Ring Title Pipes, HDPE Pipes, UGD Pipes, Plumbing Pipes, Casing
PVC Pipes and SIRI Brand title Grout, Wall Putty, Tile Adhesive, Construction
Chemicals, Water Proof Compound, Epoxy Resins, etc. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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|||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
Cash Credit Facilities from State Bank of Mysore are secured on
a parl passu first charge against hypothecation of Stocks and Personal
Guarantee of Director. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M R K Reddy and Company Chartered Accountant |
|
Address : |
2-1-745, Flat No. 101, Manohar Apartments, Vidyanagar, Hyderabad –
500044, Andhra Pradesh, India |
|
PAN No.: |
ACAPM8952B |
|
|
|
|
Associates: |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1140100 |
Equity Shares |
Rs.10/- each |
Rs.11.401 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 |
11.401 |
11.401 |
11.401 |
|
(b) Reserves & Surplus |
28.169 |
24.264 |
21.443 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
3.878 |
4.794 |
13.261 |
|
Total
Shareholders’ Funds (1) + (2) |
43.448 |
40.459 |
46.105 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
35.641 |
27.893 |
29.591 |
|
(b) Deferred tax liabilities (Net) |
6.977 |
5.838 |
4.932 |
|
(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) |
42.618 |
33.731 |
34.523 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
87.872 |
100.847 |
84.530 |
|
(b) Trade payables |
54.163 |
26.892 |
32.919 |
|
(c) Other current
liabilities |
15.152 |
10.182 |
10.838 |
|
(d) Short-term
provisions |
1.198 |
0.893 |
0.702 |
|
Total Current
Liabilities (4) |
158.385 |
138.814 |
128.989 |
|
|
|
|
|
|
TOTAL |
244.451 |
213.004 |
209.617 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
76.590 |
69.432 |
64.164 |
|
(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) |
1.811 |
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 |
78.401 |
69.432 |
64.164 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
51.208 |
34.828 |
33.016 |
|
(c) Trade receivables |
85.201 |
85.739 |
72.080 |
|
(d) Cash and cash
equivalents |
11.735 |
15.362 |
18.077 |
|
(e) Short-term loans
and advances |
17.906 |
7.643 |
22.280 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
166.050 |
143.572 |
145.453 |
|
|
|
|
|
|
TOTAL |
244.451 |
213.004 |
209.617 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
585.877 |
405.529 |
309.309 |
|
|
|
Other Income |
1.372 |
1.471 |
0.449 |
|
|
|
TOTAL (A) |
587.249 |
407.000 |
309.758 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
467.009 |
316.831 |
245.273 |
|
|
|
Changes in Inventories of Finished Goods, Work-In-Progress and Stock
In Trade. |
1.428 |
3.520 |
(5.981) |
|
|
|
Employee Benefit Expenses |
20.689 |
12.071 |
10.169 |
|
|
|
Other Expenses |
67.019 |
47.287 |
37.805 |
|
|
|
TOTAL (B) |
556.145 |
379.709 |
287.266 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
31.104 |
27.291 |
22.492 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.809 |
17.874 |
13.506 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.295 |
9.417 |
8.986 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.006 |
4.730 |
4.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.289 |
4.687 |
4.016 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.383 |
1.867 |
1.561 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
3.906 |
2.820 |
2.455 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.10/-) |
3.43 |
2.47 |
2.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
0.67 |
0.70 |
0.79 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
5.31 |
6.73 |
7.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.59 |
2.20 |
1.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.12 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.84 |
3.18 |
2.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.03 |
1.13 |
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 |
11.401 |
11.401 |
11.401 |
|
Reserves & Surplus |
21.443 |
24.264 |
28.169 |
|
Share Application money
pending allotment |
13.261 |
4.794 |
3.878 |
|
Net worth |
46.105 |
40.459 |
43.448 |
|
|
|
|
|
|
long-term borrowings |
29.591 |
27.893 |
35.641 |
|
Short term borrowings |
84.530 |
100.847 |
87.872 |
|
Total borrowings |
114.121 |
128.740 |
123.513 |
|
Debt/Equity ratio |
2.475 |
3.182 |
2.843 |
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 |
250.000 |
300.000 |
350.000 |
|
|
|
20.000 |
16.667 |
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 |
250.000 |
300.000 |
350.000 |
|
Profit |
2.455 |
2.820 |
3.906 |
|
|
0.98% |
0.94% |
1.12% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans From Directors |
1.082 |
3.837 |
|
Term Loans From Other |
0.000 |
0.227 |
|
|
|
|
|
Total |
1.082 |
4.064 |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10385729 |
11/10/2012 |
2,000,000.00 |
KARNATAKA STATE FINANCIAL CORPORATION |
HOSPET ROAD BRANCH, NO.86/2 NEAR DIC OFFICE, BELL |
B61825758 |
|
2 |
10385731 |
11/10/2012 |
5,000,000.00 |
KARNATAKA STATE FINANCIAL CORPORATION |
HOSPET ROAD BRANCH, NO.86/2 NEAR DIC OFFICE, BELL |
B61825899 |
|
3 |
10141473 |
04/01/2012 * |
4,750,000.00 |
KARNATAKA STATE FINANCIAL CORPORATION |
BELLARY BRANCH OFFICE, HOSPET ROAD, BELLARY, Karn |
B30118129 |
|
4 |
90196461 |
11/10/2003 |
1,000,000.00 |
STATE BANK OF MYSORE |
CONTONMENT BRANCH, BELLARY, Karnataka, INDIA |
- |
|
5 |
90199896 |
30/09/2014 * |
160,000,000.00 |
STATE BANK OF MYSORE |
CANTONMENT BRANCH, BELLARY, BELLARY, Karnataka - |
C30554620 |
* Date of charge modification
FIXED ASSTES
- Factory
Building
- Land
- Vehivle
- Electric
Equipment
- Lab Equipment
- Office
Equipment
- Machinery
- Furniture
- 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.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
2OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.