MIRA INFORM REPORT
|
Report No. : |
305139 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIJAY TANKS AND VESSELS PRIVATE LIMITED (w.e.f.08.09.2011) |
|
|
|
|
Formerly Known
As : |
VIJAY TANKS AND VESSELS LIMITED |
|
|
|
|
Registered
Office : |
B – 504, Vrindavan Apartment, Link Road, Mulund (West), Mumbai –
400080, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.09.2004 |
|
|
|
|
Com. Reg. No.: |
11-014340 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.54.641 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29132MH2004PTC014340 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV01330A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV4048A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pressure Vessels, Heat Exchangers,
Cryogenic Storage Systems, etc. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. Sales turnover of the company has declined resulting into dip in profit
of the company during financial year 2014. However, the rating takes into consideration company’s healthy
financial risk profile and adequate liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered for good for normal business dealings at
usual trade terms and conditions. |
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 |
CARE |
|
Rating |
Long Term Bank Facilities = A |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
26.12.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
26.12.2014 |
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 BY
|
Name : |
Mr. Rajesh Nair |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-25684419 |
|
Date : |
27.01.2015 |
LOCATIONS
|
Registered Office : |
B – 504, Vrindavan Apartment, Link Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Tel. No.: |
91-22-25684419 / 25910667 |
|
Mobile No.: |
91-9727769325 (Mr. Rajesh Nair) |
|
Fax No.: |
91-22-25684419 |
|
E-Mail : |
accounts@vijaytanks.com |
|
Website : |
|
|
Area : |
5000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Head Office / Works 1 : |
National Highway No. 8, Sankarda, Vadodara – 391350, Gujarat, India |
|
Tel. No.: |
91-265-2840168/ 2840171/ 2840572 |
|
Fax No.: |
91-265-2840577/ 2841305 |
|
E Mail: |
|
|
Area : |
5,50,000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Kandla Export Works 2 : |
Plot No. 315 to 324, 442-D and 443 E, Kandla Special Economic Zone,
Gandhidham-370230, Gujarat, India |
|
Tel No: |
91-2836-227562 |
|
Fax No.: |
91-2836-227562 |
|
E Mail: |
|
|
Area : |
60,000 Sq. ft |
|
Location : |
Leased |
|
|
|
|
Works 3 : |
State Highway No. 20, Mithoi Lalpur, Khambhalia, Jamnagar - 361305,
Gujarat, India |
|
E Mail: |
|
|
|
|
|
Overseas Office : |
Post Box No. 94439, Abu Dhabi - UAE |
|
Tel. No.: |
971 - (0) 2 - 6454961 |
|
Fax No.: |
971 - (0) 2 - 6454962 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at: ·
New Delhi ·
Chennai ·
Vadodara |
|
|
|
|
Regional Office: |
Located At: Abu Dhabi |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Ranganathan Raghavan |
|
Designation : |
Chairman and Managing director |
|
Address : |
9, Saraswati Society, Vasana Road, Vadodara - 390007, Gujarat, India |
|
Date of Birth/Age : |
26.10.1970 |
|
Qualification : |
B.E. Mechanical |
|
Experience : |
18 Years |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABQPR2549J |
|
DIN No.: |
00376645 |
|
|
|
|
Name : |
Mr. Sunderrajan Veeraraghavan |
|
Designation : |
Whole-time director |
|
Address : |
Tarangan Society, Near Geb School Akota, Vadodara - 390007, Gujarat,
India |
|
Date of Birth/Age : |
14.04.1953 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00376765 |
|
|
|
|
Name : |
Mr. Kannan Rajagopalan |
|
Designation : |
Whole-time director |
|
Address : |
3, Yogi Sagar Apartment, Urmi Society Alkapuri, Vadodara - 390007,
Gujarat, India |
|
Date of Birth/Age : |
15.06.1954 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00376719 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Nair |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
AS ON 27.09.2014
|
Names of Shareholders |
No. of Shares |
|
Prema Raghavan |
650 |
|
Ranganathan Raghavan |
431673 |
|
Padma Raghunathan |
28455 |
|
Kausalya Srinivasan |
28665 |
|
Rajalakshmi Raghavan |
28814 |
|
Vasundara Raghavan |
28157 |
|
Total |
546414 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pressure Vessels, Heat Exchangers,
Cryogenic Storage Systems, etc. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
Suppliers : |
|
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||||||||||||||||||||||
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Customers : |
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||||||||||||||||||||||
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||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
Kotak Mahindra Bank Limited
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Associates Chartered Accountants |
|
Address : |
87, Nariman
Bhavan, 227, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-61537500/22022224/8857 |
|
Fax No.: |
91-22-22023856 |
|
E-Mail : |
|
|
PAN No.: |
AAAFS1034J |
|
|
|
|
Associates Company : |
Petro-Chem Steel Fabricators Private Limited CIN No.: U28100MH1964PTC012845 |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
690000 |
Equity Shares |
Rs.100/- each |
Rs.69.000 Millions |
|
10000 |
Preference Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
Total |
|
Rs.70.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
546414 |
Equity Shares |
Rs.100/- each |
Rs.54.641 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 |
54.641 |
54.641 |
54.641 |
|
(b) Reserves & Surplus |
1602.920 |
1457.190 |
1309.223 |
|
(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) |
1657.561 |
1511.831 |
1363.864 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
3.128 |
|
(b) Deferred tax liabilities (Net) |
53.187 |
50.824 |
43.371 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.543 |
7.402 |
2.998 |
|
Total Non-current
Liabilities (3) |
59.730 |
58.226 |
49.497 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
38.326 |
0.000 |
9.409 |
|
(b) Trade
payables |
701.450 |
465.732 |
189.643 |
|
(c) Other
current liabilities |
887.122 |
859.506 |
691.209 |
|
(d) Short-term
provisions |
29.434 |
29.301 |
55.646 |
|
Total Current
Liabilities (4) |
1656.332 |
1354.539 |
945.907 |
|
|
|
|
|
|
TOTAL |
3373.623 |
2924.596 |
2359.268 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
439.312 |
444.318 |
449.624 |
|
(ii)
Intangible Assets |
10.493 |
9.063 |
11.063 |
|
(iii)
Capital work-in-progress |
0.000 |
4.475 |
3.613 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.022 |
0.022 |
0.122 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.394 |
15.051 |
22.620 |
|
(e) Other
Non-current assets |
1.962 |
2.803 |
4.004 |
|
Total Non-Current
Assets |
475.183 |
475.732 |
491.046 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
445.764 |
214.527 |
115.823 |
|
(c) Trade
receivables |
1122.486 |
765.167 |
773.179 |
|
(d) Cash
and cash equivalents |
750.761 |
911.491 |
655.073 |
|
(e)
Short-term loans and advances |
175.900 |
143.561 |
168.287 |
|
(f) Other
current assets |
403.529 |
414.118 |
155.860 |
|
Total
Current Assets |
2898.440 |
2448.864 |
1868.222 |
|
|
|
|
|
|
TOTAL |
3373.623 |
2924.596 |
2359.268 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
3083.411 |
3344.925 |
3575.703 |
|
|
|
|
Other Income |
NA |
NA |
31.936 |
|
|
|
|
TOTAL (A) |
NA |
NA |
3607.639 |
|
|
|
|
|
|
|
||
|
|
EXPENSES |
|
|
|
||
|
|
|
Manufacturing, Construction and Operating Expenses |
|
|
2831.260 |
|
|
|
|
Employee benefit Expenses |
|
|
361.928 |
|
|
|
|
Sales, Administrative and Other Expenses |
|
|
52.183 |
|
|
|
|
TOTAL (B) |
NA |
NA |
3245.371 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
292.999 |
307.259 |
362.268 |
||
|
|
|
|
|
|
||
|
|
FINANCIAL
EXPENSES (D) |
|
|
6.250 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
42.656 |
49.428 |
356.018 |
||
|
|
|
|
|
|
||
|
|
DEPRECIATION/
AMORTISATION (F) |
|
|
58.941 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
250.295 |
257.805 |
297.077 |
||
|
|
|
|
|
|
||
|
|
TAX (H) |
81.725 |
86.917 |
109.897 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
168.570 |
170.888 |
187.180 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
491.494 |
372.981 |
266.368 |
||
|
|
|
|
|
|
||
|
|
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
17.000 |
30.000 |
30.135 |
|
|
|
|
Proposed Dividend and tax thereon |
22.375 |
22.375 |
22.227 |
|
|
|
|
SEZ Re-investment Allowance Reserve |
0.000 |
0.000 |
28.205 |
|
|
|
|
Dividend |
0.000 |
0.000 |
0.000 |
|
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
620.689 |
491.494 |
372.981 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
100.553 |
619.248 |
733.677 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
345.164 |
403.880 |
475.266 |
|
|
|
|
Capital Goods |
0.000 |
1.492 |
0.000 |
|
|
|
TOTAL IMPORTS |
345.164 |
405.372 |
475.266 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
308.50 |
312.74 |
342.56 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
5.47 |
5.11 |
5.23 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
9.50 |
9.19 |
10.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.42 |
8.83 |
12.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.17 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.81 |
1.98 |
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 |
54.641 |
54.641 |
54.641 |
|
Reserves & Surplus |
1309.223 |
1457.190 |
1602.920 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1363.864 |
1511.831 |
1657.561 |
|
|
|
|
|
|
long-term borrowings |
3.128 |
0.000 |
0.000 |
|
Short term borrowings |
9.409 |
0.000 |
38.326 |
|
Total borrowings |
12.537 |
0.000 |
38.326 |
|
Debt/Equity ratio |
0.009 |
0.000 |
0.023 |
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 |
3575.703 |
3344.925 |
3083.411 |
|
|
|
-6.454 |
(7.818) |
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 |
3575.703 |
3344.925 |
3083.411 |
|
Profit |
187.180 |
170.888 |
168.570 |
|
|
5.23% |
5.11% |
5.47% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
0.000 |
3.128 |
39.159 |
|
Total |
0.000 |
3.128 |
39.159 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
CORPORATE INFORMATION
Subject Limited was incorporated under the Companies Act, 1956 on August 1, 1969. To comply with regulatory requirements, the Company was converted from a Private Limited Company to a deemed Public Company in 1989. The status was reverted back to Private Limited Company o n September 8, 2011.
The Company is principally engaged in executing number of turnkey projects involving construction / manufacturing of large Storage tanks of different configuration, Pressure Vessels, Process Columns etc. for the Refinery, Petrochemical, and Power etc. These Projects are delivered across the Indian subcontinent, the Middle East, Africa and Australia.
The Company has shop floor fabrication facility at Vadodara, Central Stores & Maintenance facility at Jamnagar. It also has SEZ units located at Kandla & Dahej.
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10544104 |
13/01/2015 |
303,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDR |
C40935348 |
|
2 |
10533054 |
10/11/2014 |
350,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH FLOOR,, DISCOVERY OF INDIA, DR. |
C34762104 |
|
3 |
10469094 |
03/01/2014 |
880,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE,, MUMBAI, M |
B93100196 |
|
4 |
10463408 |
27/11/2013 |
755,000,000.00 |
ICICI BANK LIMITED |
LAND MARK RACE COURSE CIRCLE, ALKAPURI, VADODARA, |
B90809310 |
|
5 |
10344443 |
06/01/2014 * |
640,000,000.00 |
ICICI BANK LIMITED |
LAND MARK, RACE COURSE CIRCLE,, ALKAPURI, VADODAR |
B94624913 |
|
6 |
10255182 |
06/01/2014 * |
150,000,000.00 |
ICICI BANK LIMITED |
LAND MARK, RACE COURSE CIRCLE,, ALKAPURI, VADODAR |
B94624376 |
|
7 |
10249703 |
17/05/2012 * |
1,150,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE,, MUMBAI, M |
B40557001 |
|
8 |
90229311 |
06/09/2010 * |
1,745,000,000.00 |
STATE BANK OF INDIA |
GRESHAM HOUSE, SIR P M ROAD,, FORT,, MUMBAI, MAH |
A94197811 |
*Date of modification Charges
FIXED ASSETS:
· Land
· Factory Shed
· Office Building
· Plant and Machinery
· Electrical Installation
· Furniture and Fixtures
· Office Equipment’s
· Vehicles
- Computer
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.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
60 |
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.