MIRA
INFORM REPORT
|
Report No. : |
329521 |
|
Report Date : |
02.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRI GOVINDARAJA TEXTILE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
258, |
|
Tel. No.: |
91-4566-240263 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.04.1999 |
|
|
|
|
Com. Reg. No.: |
18-042314 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8161.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TN1999PTC042314 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS7005D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of cotton and polyester blended cotton yarn used for
knitting and weaving. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 24000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Shri Govindaraja Textiles Private Limited (SGTPL) was incorporated in
the year 1999 as a part of “Shri Govindaraja Group”, which is a part of the
larger “Sri Jayavilas Group” Subject is an established company having satisfactory track record.
Company manufactures cotton and polyester blended cotton yarn used for
knitting and weaving. The ratings reflect SGTPL’s established market position in the cotton
yarn segment supported by the rich industry experience of its promoters,
healthy operational efficiencies. The rating also factor on company above-average financial risk profile
marked by its healthy net worth and comfortable debt protection metrics. These rating strengths are partially offset by the vulnerability of
its margins to volatility in raw material prices. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. In view of strong linkage of financial and operation of group
companies, the company can be considered for business dealings at usual trade
terms and conditions. Note: Company Formulated and approved Scheme of Amalgamation on 8th
February 2013 for the transferring and vesting undertaking on Sri Sathu
Spinning Mills Private Limited, Jayadevi Mills Private Limited and Shri
Jayarthan Spinning Mills Private Limited with Shri Govindaraja Mills Limited,
under the provision of Section 391 to 394 of the Companies Act 1956. Hon’ble High Court of Madras has approved the said Scheme of
Amalgamation with effect from 1st April 2012. All the said company
has accepted the Hon’ble High Court and Filed necessary returns with the
Registrar of Company. All the merger process have been completed and the working results as reported
on the combine unit for the year ended 2014.
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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: BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
01.08.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3 |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
01.08.2014 |
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
31-03-2013.
INFORMATION DECLINED
Management Non- Corporative 91-4566-240263
LOCATIONS
|
Registered Office : |
258, Thiruchuli Road, Virudhunagar District, Aruppukottai – 626101,
Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office: |
No. 12, Conrasmith Road, Gopalapuram, Chennai – 600086, Tamilnadu,
India |
|
Tel. No.: |
91-44-28353191 |
|
Fax No.: |
91-44-28350969 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Madathupatti Tamilpadi (PO) Aruppukottai District, Virudhunagar –
626129, Tamilnadu, India |
|
Tel No.: |
91-4566-282256/282345 |
|
|
|
|
Admin Office: |
No. 1 Sayalgudi Road, Savvaspuram, Aruppukottai – 626159, Tamilnadu,
India |
|
Tel. No.: |
91-4566-240844/329777 |
|
Fax No.: |
91-4566-240263/240342 |
|
E-Mail : |
DIRECTORS
AS ON 04.07.2014
|
Name : |
Mr. Thathi Naicker Ramasamy Varadarajan |
|
Designation : |
Director |
|
Address : |
No.1 T.Ramanaicker Street, Vadugarkottai, Aruppukottai –
626101, Tamilnadu,
India |
|
Date of Birth/Age : |
25.07.1940 |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
00077433 |
|
PAN No.: |
AAGPV2535B |
|
|
|
|
Name : |
Mr. Ramkumar Varadarajan |
|
Designation : |
Managing director |
|
Address : |
No.1,Ramasamy Naicker Street Vadugarkottai
Aruppukottai-626101, Tamilnadu, India |
|
Date of Birth/Age : |
16.02.1975 |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
00875616 |
|
|
|
|
Name : |
Mr. Suhasini Lakshminarayanaswamy |
|
Designation : |
Director |
|
Address : |
Old No.7, New No.15, Nethaji Street, Coimbatore (North),
Coimbatore- 641044, Tamilnadu, India |
|
Date of Birth/Age : |
16.08.1976 |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
01462072 |
|
|
|
|
Name : |
Mr. Raju Naidu Chempakadevi |
|
Designation : |
Additional Director |
|
Address : |
Vadugarkottai, Aruppukottai, Aruppukottai - 626101, Tamil Nadu, India |
|
Date of Appointment : |
08.06.2015 |
|
PAN No.: |
ABGPC7889N |
|
DIN No.: |
00875712 |
|
PAN No.: |
ABGPC7889N |
KEY EXECUTIVES
|
Name : |
Mr. A G Balakrishnan |
|
Designation : |
Company Secretary |
|
Address : |
T- 12, Mangala Jyothi, 43rd 4th Trust Cross Street Mandaveli,
Chennai-600028, Tamilnadu, India |
|
Date of Birth/Age : |
08.10.1942 |
|
Date of Appointment : |
01.07.2010 |
|
PAN No.: |
AAAPB4789P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 04.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Thathi Naicker Ramasamy Varadarajan |
|
750000 |
|
Chmpakadevi |
|
400000 |
|
Ramkumar Varadarajan |
|
650000 |
|
T.R.V. Venkatalakshmi |
|
200000 |
|
T. R. V. Pavarna |
|
200000 |
|
R.Suhasini |
|
200000 |
|
|
|
|
|
Total |
|
2400000 |
LIST OF ALLOTTEES :
|
Names of Allottees |
|
No. of Shares |
|
T R Varadarajan |
|
5560168 |
|
V Pavarna |
|
3449883 |
|
R Shuhasini |
|
32134 |
|
T R Dhinakaran |
|
205160 |
|
D Senthilkumar |
|
1871584 |
|
D Nirmala |
|
50284 |
|
T R D Kothai |
|
7500 |
|
Sri Ramalinga Textiles Private Limited |
|
33000 |
|
Total |
|
79216000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 04.07.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of cotton and polyester blended cotton yarn used for
knitting and weaving. |
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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 Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the
management |
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|
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|
Bankers : |
· Canara Bank, Prime Corporate Branch, Spencer Tower 1, Ground Floor, 770 Anna Salai, Chennai - 600002, Tamil Nadu, India ·
Tamilnad Mercantile Bank Limited, Aruppukottai
Branch, 25, Virudhunagar Road, Aruppukottai - 626101, Tamil Nadu, India · Industrial Development Bank Of India Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Indian Bank, Ethiraj Salai Branch, Ethiraj Salai, Chennai - 600008, Tamil Nadu, India · State Bank of India, SME Branch, 185,Madurai Road, Aruppukottai - - 626101, Tamil Nadu, India |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
G.Jeyaraman Chartered Accountants |
|
Address : |
5-A, Gowsika Mansion North Gate ,S. S. Colony, Madurai – 625010, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAWPJ2929D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their
relatives |
· Shri Ramalinga Mills Limited [CIN No. U17111TN1951PLC002746], India · Chempakadevi Holdings Private Limited [CIN No. U65922TN2012PTC089025], India · Sri Jayavilas Green Power Private Limited [CIN No. U28112TN2011PTC083672], India |
CAPITAL STRUCTURE
AS ON 04.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.100/- each |
Rs. 250.000 Million |
|
|
|
|
|
|
79216000 |
Preference Shares |
Rs.100/- each |
Rs. 7921.600 Million |
|
|
Total |
|
Rs. 8171.600
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2400000 |
Equity Shares |
Rs.100/- each |
Rs. 240.000
Million |
|
|
|
|
|
|
79216000 |
Preference Shares |
Rs.100/-
each |
Rs. 7921.600
Million |
|
|
Total |
|
Rs. 8161.600
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
8161.600 |
240.000 |
250.000 |
|
(b) Reserves & Surplus |
395.492 |
141.549 |
110.193 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
7921.600 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
8557.092 |
8303.149 |
360.193 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3687.977 |
2322.122 |
1976.969 |
|
(b) Deferred tax liabilities (Net) |
162.406 |
181.327 |
67.532 |
|
(c) Other long term liabilities |
473.770 |
603.691 |
102.305 |
|
(d) long-term provisions |
237.275 |
170.269 |
41.215 |
|
Total Non-current Liabilities (3) |
4561.428 |
3277.409 |
2188.021 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3957.901 |
2505.857 |
1082.475 |
|
(b) Trade payables |
416.159 |
414.476 |
47.802 |
|
(c) Other current
liabilities |
929.475 |
577.182 |
172.912 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
5303.535 |
3497.515 |
1303.189 |
|
|
|
|
|
|
TOTAL |
18422.055 |
15078.073 |
3851.403 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5706.905 |
4816.757 |
1673.234 |
|
(ii) Intangible Assets |
0.446 |
0.415 |
0.099 |
|
(iii) Capital
work-in-progress |
233.237 |
237.858 |
264.116 |
|
(iv)
Intangible assets under development |
5655.738 |
5655.739 |
0.000 |
|
(b) Non-current Investments |
29.356 |
38.473 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
433.205 |
434.495 |
257.371 |
|
(e) Other Non-current assets |
22.973 |
27.165 |
14.917 |
|
Total Non-Current Assets |
12081.860 |
11210.902 |
2209.742 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4079.563 |
2285.294 |
882.606 |
|
(c) Trade receivables |
589.947 |
784.171 |
519.552 |
|
(d) Cash and cash
equivalents |
150.656 |
157.325 |
10.213 |
|
(e) Short-term loans and
advances |
1520.029 |
640.381 |
229.290 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
6340.195 |
3867.171 |
1641.661 |
|
|
|
|
|
|
TOTAL |
18422.055 |
15078.073 |
3851.403 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1746.721 |
938.914 |
470.332 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
566.125 |
494.602 |
231.361 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1180.596 |
444.312 |
238.971 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
878.568 |
395.057 |
198.880 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
302.028 |
49.255 |
40.091 |
|
|
|
|
|
|
|
Less |
TAX |
48.085 |
17.899 |
14.922 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
253.943 |
31.356 |
25.169 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
1486.947 |
681.349 |
6.569 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.11 |
0.38 |
0.31 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.42 |
0.54 |
1.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.01 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.89 |
0.58 |
8.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.11 |
1.26 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
250.000 |
240.000 |
8161.600 |
|
Reserves & Surplus |
110.193 |
141.549 |
395.492 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
7921.600 |
0.000 |
|
Net worth |
360.193 |
8303.149 |
8557.092 |
|
|
|
|
|
|
long-term borrowings |
1976.969 |
2322.122 |
3687.977 |
|
Short term borrowings |
1082.475 |
2505.857 |
3957.901 |
|
Total borrowings |
3059.444 |
4827.979 |
7645.878 |
|
Debt/Equity ratio |
8.494 |
0.581 |
0.894 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
WORKING
The working of the company for the year has resulted in a net Profit of Rs. 302.028 Million after providing for depreciation and financial expenses of Rs.14,44.692 Million which compares very well with the profit of Rs.49.255 Million after providing for depreciation and financial expenses of Rs.8,89.659 Million for the curresponding previous year. As reported in the last year all the merger process of the Govindaraja Group with Shri Govindaraja Textiles Private Limited have been completed and the working results as reported above are for the combined unit for the year. But for the continued power cut both in Tamilnadu and Andhra Pradesh, the working results would have been much better.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
868.664 |
752.728 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Deposits from others |
23.624 |
22.146 |
|
Total |
892.288 |
774.874 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10554726 |
13/02/2015 |
460,000 |
Indian Bank |
EthirajSalai Branch, Ethiraj Salai, Chennai, Tamil Nadu - 600008, INDIA |
C46495610 |
|
2 |
10546811 |
07/01/2015 |
875,500 |
State Bank of India |
SME Branch, 185,Madurai Road, Aruppukottai, Tamil Nadu - 626101, INDIA |
C42326579 |
|
3 |
10546801 |
07/01/2015 |
884,000 |
State Bank of India |
SME Branch, 185,Madurai Road, Aruppukottai, Tamil Nadu - 626101, INDIA |
C42324707 |
|
4 |
10546816 |
07/01/2015 |
884,000 |
State Bank of India |
SME Branch, 185,Madurai Road, Aruppukottai, Tamil Nadu - 626101, INDIA |
C42327429 |
|
5 |
10544579 |
31/12/2014 |
1,000,000,000 |
Syndicate Bank |
Mid Corporate
Branch, 459/1, Anna Salai, Chennai, |
C41211095 |
|
6 |
10523531 |
09/09/2014 |
137,000,000 |
THE KARUR VYSYA BANK LIMITED |
141, FIRST FLOOR,
SRI JEYAVILAS COMPLEX, SATHYAMO |
C25193335 |
|
7 |
10519878 |
26/08/2014 |
860,000.00 |
INDIAN BANK |
ETHIRAJ SALAI BRANCH, ETHIRAJ SALAI, CHENNAI, Tamil Nadu - 600008, INDIA |
C20584512 |
|
8 |
10519879 |
22/08/2014 |
1,000,000 |
INDIAN BANK |
ETHIRAJ SALAI BRANCH, ETHIRAJ SALAI, CHENNAI, Tamil Nadu - 600008, INDIA |
C20583357 |
|
9 |
10519877 |
20/08/2014 |
1,000,000 |
INDIAN BANK |
ETHIRAJ SALAI BRANCH, ETHIRAJ SALAI, CHENNAI, Tamil Nadu - 600008, INDIA |
C20584306 |
|
10 |
10494144 |
25/04/2014 |
559,000 |
STATE BANK OF INDIA |
SME BRANCH, MADURAI ROAD, ARUPPUKOTTAI, Tamil Nadu -626101, INDIA |
C04122594 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Computer software
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.63.62 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.70.76 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYA |
|
|
|
|
Analysis Done by
: |
KSH |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.