MIRA INFORM REPORT
|
Report No. : |
330932 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MINDA KYORAKU LIMITED (w.e.f. 30.09.2011) |
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|
|
|
Formerly Known
As : |
BLOWMOULDING ENGINEERING LIMITED |
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Registered
Office : |
B-64/1, Wazirpur Industrial Area, Delhi – 110 052 |
|
Tel. No.: |
91-11-27375228 |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
17.08.2011 |
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|
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|
Com. Reg. No.: |
55-223819 |
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|
Capital
Investment / Paid-up Capital : |
Rs.412.370 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35122DL2011PLC223819 |
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|
|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECB6805H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is primarily involved in manufacture of blow
moulding products, duct, spoiler, drain hose and warning triangle. |
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|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1135000 |
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|
|
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 a subsidiary of “Minda Industries Limited”, it is
relatively newly established company incorporated in the year 2011. It has a
moderate track record. The company possesses moderate financial risk profile marked by huge
losses incurred which has lower the reserves position. However, management has reported good business operations and growth
in its sales volume in its sales volume as well as it has decent working
capital. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. In view of short term of business track record, 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 – 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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-cooperative
(Tel. No.: 91-124-2290693/ 91-1284-264139)
LOCATIONS
|
Registered Office : |
B-64/1, Wazirpur Industrial Area, Delhi – 110 052, India |
|
Tel. No.: |
91-11-27375228 |
|
Fax No.: |
Not Available |
|
E-Mail : |
General Queries: info@mindagroup.com Media Relations: corpcomm@mindagroup.com Investor Relations: investor@mindagroup.com |
|
Website : |
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Head Office : |
Plot No.327, Sector-3, Phase-II, Industrial Growth Centre, Bawal – 123
501, Rewari, Haryana, India |
|
Tel. No.: |
91-1284-264139 |
|
Fax No.: |
91-1284-264138 |
|
|
|
|
Factory : |
No.28F, Harohalli, Main Road, Glow
Molding and Plastic Division, Abanak Kuppb, KIADB Industrial Area, Bidabi,
Bangalore – 562 109, Karnataka, India |
DIRECTORS
AS ON 05.08.2014
|
Name : |
Mr. Nitesh Kumar Minda |
|
Designation : |
Managing Director |
|
Address : |
8, Harsh Vihar, Pitam Pura, Delhi – 110 034, India |
|
Date of Birth/Age : |
01.07.1982 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
26.09.2011 |
|
DIN No.: |
00408023 |
|
PAN No.: |
AJEPM6743K |
|
|
|
|
Name : |
Mr. Jaikumar Menon |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
805, Ivory Towers, South City-I, Gurgaon – 122 001, Haryana, India |
|
Date of Birth/Age : |
30.04.1960 |
|
Date of Appointment : |
30.07.2013 |
|
DIN No.: |
00292236 |
|
|
|
|
Name : |
Mr. Ashok Kumar Goel |
|
Designation : |
Director |
|
Address : |
A-303, GH-96, Sector - 54, Gurgaon – 122 001, Haryana, India |
|
Date of Birth/Age : |
29.08.1950 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.08.2011 |
|
DIN No.: |
02012971 |
|
|
|
|
Name : |
Mr. Atsushi Senoo |
|
Designation : |
Director |
|
Address : |
1958, DAI, Kamakura-Shi, Kanagawa-Ken, 2470061 Japan |
|
Date of Birth/Age : |
21.11.1957 |
|
Date of Appointment : |
22.05.2014 |
|
DIN No.: |
05203285 |
|
|
|
|
Name : |
Mr. Masaya Ikemoto |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
3-20-27 Shinohata Higashi, Kita-ku Yokohama, Kanagawa, 2220022, Japan |
|
Date of Birth/Age : |
20.09.1961 |
|
Date of Appointment : |
30.07.2013 |
|
DIN No.: |
06645440 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Kumar Shukla |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Anand K. Minda |
|
49400 |
|
Nirmal K. Minda |
|
100 |
|
Sudhir Jain |
|
100 |
|
Harish Chander Dhamija |
|
100 |
|
Brijesh K. Saini |
|
100 |
|
Praveen Juneja |
|
100 |
|
Debadas Panda |
|
100 |
|
Minda Industries Limited, India |
|
29550000 |
|
Kyoraku Company Limited, Japan |
|
6400000 |
|
Nagase and Company Limited, Japan |
|
4000000 |
|
Chiyoda Manufacturing Corporation, Japan |
|
1237000 |
|
Total |
|
41237000 |
AS ON 05.08.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
28.22 |
|
Bodies
corporate |
|
71.66 |
|
Directors
or relatives of directors |
|
0.12 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily involved in manufacture of
blow moulding products, duct, spoiler, drain hose and warning triangle. |
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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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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
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Facilities : |
Notes: LONG-TERM BORROWINGS Nature of security and terms of repayment for secured borrowings Term loan from bank
amounting to Rs.133.341 million (inclusive of buyer's credit amounting to USD
194,200) (Previous year Rs.78.691 million (inclusive of Buyer's credit
amounting to USD 194,200)) are secured by exclusive charge on all current
assets (both present and future) and second charge on all fixed assets (both
present and future) and corporate guarantee from Minda Industries Limited. SHORT-TERM BORROWINGS Nature of security and terms of repayment for secured borrowings Cash credit from bank
amounting to Rs.45.697 million (Previous year Rs.25.185 million (inclusive of
buyer's credit amounting to USD 118,390) are secured by exclusive charge on
all current assets (both present and future) and second charge on all fixed
assets (both present and future) and corporate guarantee from Minda
Industries Limited. Cash credit from banks
carry interest ranging between 12%-13% p.a. computed on a monthly basis on
the actual amount utilized, and are repayable on demand. Buyer's credit from bank
amounting to Rs.29.021 million (USD 477,775) (Previous year Rs. Nil) are
secured by exclusive charge on all current assets (both present and future)
and second charge on all fixed assets (both present and future) and corporate
guarantee from Minda Industries Limited. Short term loan payable
within 12 months amounting to Rs.20.732 million (Previous year Rs. Nil) are
secured by exclusive charge on all current assets (both present and future)
and second charge on all fixed assets (both present and future) and corporate
guarantee from Minda Industries Limited.
|
|
Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B
S R and Co. LLP Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower-B, DLF Cyber
City, Phase-II, Gurgaon – 122 002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Minda Industries Limited, India (CIN No.: L74899DL1992PLC050333) |
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Joint Venture Investors : |
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|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
MI
Torica India Limited, India (CIN No.: U51909DL2011PLC223728) |
CAPITAL STRUCTURE
AS ON 05.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
41237000 |
Equity Shares |
Rs.10/- each |
Rs.412.370 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
41237000 |
Equity Shares |
Rs.10/- each |
Rs.412.370 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 |
412.370 |
412.370 |
400.000 |
|
(b) Reserves &
Surplus |
(15.239) |
20.834 |
39.368 |
|
(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) |
397.131 |
433.204 |
439.368 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
133.341 |
78.691 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
8.217 |
2.322 |
|
(c) Other long term
liabilities |
0.000 |
28.761 |
4.200 |
|
(d) Long-term provisions |
5.372 |
3.726 |
1.681 |
|
Total Non-current
Liabilities (3) |
138.713 |
119.395 |
8.203 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
97.379 |
25.185 |
0.000 |
|
(b) Trade payables |
91.386 |
44.133 |
37.749 |
|
(c) Other current
liabilities |
26.402 |
21.009 |
15.337 |
|
(d) Short-term provisions |
0.237 |
0.370 |
0.062 |
|
Total Current Liabilities
(4) |
215.404 |
90.697 |
53.148 |
|
|
|
|
|
|
TOTAL |
751.248 |
643.296 |
500.719 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
538.446 |
442.850 |
258.849 |
|
(ii) Intangible Assets |
8.589 |
5.786 |
6.928 |
|
(iii) Capital
work-in-progress |
0.000 |
38.510 |
0.143 |
|
(iv) Intangible assets
under development or work-in-progress |
0.747 |
1.132 |
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 |
6.769 |
2.896 |
14.779 |
|
(e) Other Non-current
assets |
2.951 |
2.712 |
0.000 |
|
Total Non-Current Assets |
557.502 |
493.886 |
280.699 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
73.379 |
59.705 |
22.253 |
|
(c) Trade receivables |
74.231 |
43.983 |
30.442 |
|
(d) Cash and cash
equivalents |
11.158 |
19.187 |
156.688 |
|
(e) Short-term loans and
advances |
25.873 |
24.651 |
9.048 |
|
(f) Other current assets |
9.105 |
1.884 |
1.589 |
|
Total Current Assets |
193.746 |
149.410 |
220.020 |
|
|
|
|
|
|
TOTAL |
751.248 |
643.296 |
500.719 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
526.929 |
271.184 |
42.499 |
|
|
|
Other Income |
1.073 |
4.261 |
1.994 |
|
|
|
TOTAL |
528.002 |
275.445 |
44.493 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials
consumed |
301.344 |
140.531 |
25.596 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(3.648) |
(15.724) |
(1.629) |
|
|
|
Employee benefit
expense |
74.245 |
54.893 |
8.920 |
|
|
|
Other expenses |
139.806 |
80.107 |
12.072 |
|
|
|
Prior period items |
0.000 |
0.379 |
0.000 |
|
|
|
TOTAL |
511.747 |
260.186 |
44.959 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
16.255 |
15.259 |
(0.466) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
15.648 |
3.401 |
0.197 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.607 |
11.858 |
(0.663) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
44.896 |
27.590 |
5.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(44.289) |
(15.732) |
(6.159) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(8.217) |
5.895 |
2.323 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(36.072) |
(21.627) |
(8.482) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
35.570 |
43.063 |
0.000 |
|
|
|
Raw Materials |
53.599 |
17.480 |
0.651 |
|
|
|
Stores & Spares |
7.498 |
23.840 |
0.930 |
|
|
TOTAL IMPORTS |
96.667 |
84.383 |
1.581 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.87) |
(0.54) |
(1.30) |
|
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 |
|
Net cash flows from (used in) operations |
7.468 |
(10.489) |
(20.047) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(6.85) |
(7.98) |
(19.96) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.08 |
5.63 |
(1.10) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.90) |
(2.61) |
(1.23) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
(0.04) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.58 |
0.24 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
1.65 |
4.14 |
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 |
400.000 |
412.370 |
412.370 |
|
Reserves & Surplus |
39.368 |
20.834 |
(15.239) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
439.368 |
433.204 |
397.131 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
78.691 |
133.341 |
|
Short term borrowings |
0.000 |
25.185 |
97.379 |
|
Total borrowings |
0.000 |
103.876 |
230.720 |
|
Debt/Equity ratio |
0.000 |
0.240 |
0.581 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
42.499 |
271.184 |
526.929 |
|
|
|
538.095 |
94.307 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
42.499 |
271.184 |
526.929 |
|
Profit |
(8.482) |
(21.627) |
(36.072) |
|
|
(19.96%) |
(7.98%) |
(6.85%) |
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 |
Yes |
|
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 about 2 years 7
months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about 2 years 7
months |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
COMPANY OVERVIEW:
The Company was incorporated in India on 17th August 2011. It
is a joint venture between Minda Industries Limited, Nagase and Co. Limited
(Japan), Chiyoda Manufacturing Corporation (Japan) and Kyoraku Co. Limited
(Japan). The Company is primarily involved in manufacture of blow moulding
products, duct, spoiler, drain hose and warning triangle. The Company caters to
domestic market.
PERFORMANCE:
During the year the company has achieved net sales of Rs.526.929 million
(previous year Rs.271.184 million), recording a growth of approximately 94% in
term of turnover in comparison to the previous financial year. Loss after Tax
for the current financial year is Rs.36.072 million (against the loss for the
previous financial year of Rs.21.627 million).
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT-TERM BORROWINGS |
|
|
|
Loan
repayable on demand from others [Unsecured
loan from Minda Investments Limited amounting to Rs.1.920 million (previous
year Rs. Nil) is payable at demand bearing the rate of interest of 13%.] |
1.920 |
0.000 |
|
Total
|
1.920 |
0.000 |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Factory Equipments
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
· Know-How
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.63.38 |
|
UK Pound |
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.