MIRA INFORM REPORT
|
Report No. : |
333831 |
|
Report Date : |
29.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
EASTERN COPPER MANUFACTURING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
42/1 Strand Road, 2nd Floor, Kolkata – 700007, West Bengal |
|
Tel. No.: |
91-33-32553415/22184196/65337194 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.03.1996 |
|
|
|
|
Com. Reg. No.: |
21-078561 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 32.504 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1996PTC078561 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of copper wire, strips rods. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Company has incurred losses from its operations, which has hampered
the net worth of the company. Further company has reported increase in its
external borrowings in FY14. However, trade relations are fair. Business is active. Payment terms
are reported to be slow. 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 |
CRISIL |
|
Rating |
Long term rating “C” |
|
Rating Explanation |
Poor credit quality and limited prospects of recovery. |
|
Date |
March 04, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating “A4” |
|
Rating Explanation |
Minimal degree of safety very high credit risk. |
|
Date |
March 04, 2015 |
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 PARTED BY
|
Name : |
Mr. Ravi Choudhary |
|
Designation : |
Director |
|
Contact No.: |
91-9830042157 |
|
Date : |
28.07.2015 |
LOCATIONS
|
Registered
Office/Head Office: |
42/1 Strand Road, 2nd Floor, Kolkata – 700007, West Bengal,
India |
|
Tel. No.: |
91-33-32553415/22184196/65337194 |
|
Mobile No.: |
91-9830042157 (Mr. Ravi) |
|
Fax No.: |
91-33-22684197 |
|
E-Mail : |
info@easterncoppercalcultta.com rajiv@easterncopper-calcultta.com projects@easterncoppercalcutta.com |
|
Website : |
|
|
|
|
|
Factory : |
Banira Industrial Estate Jalan Complex, Jungalpur, Howrah, West Bengal, India |
|
Tel. No.: |
91-33-32553415 |
|
Fax No.: |
91-33-26692735 |
|
E-Mail : |
export@easterncoppercalcutta.com |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Rajiv Choudhary |
|
Designation : |
Director |
|
Address : |
13, Hardutt Rai Chamaria Road, Howrah-711101, West Bengal, India |
|
Date of Birth/Age : |
08.09.1965 |
|
Date of Appointment : |
22.01.2001 |
|
DIN No.: |
00715736 |
|
|
|
|
Name : |
Mr. Ravi Choudhary |
|
Designation : |
Director |
|
Address : |
13, Hardutt Rai Chamaria Road, Howrah-711101, West Bengal, India |
|
Date of Birth/Age : |
02.10.1963 |
|
Date of Appointment : |
27.03.1996 |
|
DIN No.: |
00715885 |
|
|
|
|
Name : |
Mr. Ram Gopal Choudhary |
|
Designation : |
Director |
|
Address : |
13, Hardutt Rai Chamaria Road, Howrah-711101, West Bengal, India |
|
Date of Birth/Age : |
05.01.1939 |
|
Date of Appointment : |
07.01.2008 |
|
DIN No.: |
00973567 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Choudhary Ravi |
|
237740 |
|
Choudhary Manish |
|
4990 |
|
Choudhary Suruchi |
|
206150 |
|
Choudhary Devi Madalsa |
|
315050 |
|
Choudhary Dipa |
|
7000 |
|
Choudhary Devi Vidya |
|
3300 |
|
Choudhary Ashis |
|
24750 |
|
Choudhary Gopal Ram |
|
261850 |
|
Choudhary Anuj |
|
11700 |
|
Choudhary Rajiv |
|
201450 |
|
Choudhary Sajan |
|
6000 |
|
S.K. Choudhary & Sons (HUF) |
|
6340 |
|
Choudhary Kumar Ratan |
|
12500 |
|
Choudhary Anuradha |
|
141100 |
|
Ram Gopal Choudhary (HUF) |
|
275300 |
|
Sajan Kumar Choudhary (HUF) |
|
9700 |
|
Pradip Goenka (HUF) |
|
1000 |
|
Ravi Goenka (HUF) |
|
1000 |
|
Goenka Ravi |
|
61000 |
|
Ravi Choudhary (HUF) |
|
235850 |
|
Rajiv Choudhary (HUF) |
|
99550 |
|
Kejriwal Pushpa |
|
5000 |
|
Critcare Marketing Private Limited, India |
|
20000 |
|
Anil Goenka (HUF) |
|
25000 |
|
Eastern Merchandise Private Limited, India |
|
783100 |
|
Ziwani Barter Private Limited, India |
|
24000 |
|
Daisy Abhra Private Limited, India |
|
14000 |
|
Sthirlakshmi Mercantile Private Limited, India |
|
26000 |
|
Abharani Vinimay Private Limited, India |
|
10000 |
|
Active Vincom Private Limited, India |
|
25000 |
|
Navratan Vinimay Private Limited, India |
|
15000 |
|
DMK Machine O Services Consultants, India |
|
5000 |
|
Neral Commodities Private Limited, India |
|
15000 |
|
Puspanjali Intrade Private Limited, India |
|
25000 |
|
Harshika Metals Private Limited, India |
|
10000 |
|
Sonata Dealers Private Limited, India |
|
10000 |
|
Inox Dealers Private Limited, India |
|
15000 |
|
Mohit Dealers Private Limited, India |
|
25000 |
|
Sri Balaji Dealtrade Private Limited, India |
|
15000 |
|
Patalganga Barter Private Limited, India |
|
3000 |
|
Ankur Steels Private Limited, India |
|
12000 |
|
Abhilasha Tradevin Private Limited, India |
|
12000 |
|
Suryoday Suppliers Private Limited, India |
|
13000 |
|
Gainfull Suppliers Private Limited, India |
|
4000 |
|
Metropole Vinimay Private Limited, India |
|
2000 |
|
Genesis Vyapaar Private Limited, India |
|
4000 |
|
Vantage Vinimay Private Limited, India |
|
6000 |
|
Saraswati Vyapaar Private Limited, India |
|
4000 |
|
Total |
|
3250420 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
33.60 |
|
Directors or relatives of Directors |
63.39 |
|
Other top fifty shareholders |
3.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of copper wire, strips rods. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished goods |
|
Countries : |
·
Middle east ·
Bangladesh ·
Nepal ·
Bhutan |
|
|
|
|
Imports : |
|
|
Products : |
Raw material |
|
Countries : |
Middle east |
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Cash / Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. K. Luharuka and Company Chartered Accountants |
|
Address : |
Room No. 402 A, 4th Floor, P-44, Rabindra Sarani, Kolkata –
700001, West Bengal, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AANFP6412C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,250,420 |
Equity Shares |
Rs.10/- each |
Rs. 32.504
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 |
32.504 |
32.504 |
32.504 |
|
(b) Reserves & Surplus |
69.545 |
99.715 |
90.424 |
|
(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) |
102.049 |
132.219 |
122.928 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
105.736 |
47.484 |
27.216 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.867 |
1.378 |
|
(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) |
105.736 |
49.351 |
28.594 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
99.517 |
213.986 |
214.276 |
|
(b) Trade
payables |
58.397 |
53.516 |
41.700 |
|
(c) Other current
liabilities |
6.053 |
5.745 |
9.454 |
|
(d) Short-term
provisions |
4.394 |
5.526 |
4.658 |
|
Total Current
Liabilities (4) |
168.361 |
278.773 |
270.088 |
|
|
|
|
|
|
TOTAL |
376.146 |
460.343 |
421.610 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
120.390 |
130.495 |
130.789 |
|
(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) |
11.761 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.384 |
2.033 |
0.861 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
134.535 |
132.528 |
131.650 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
93.479 |
164.216 |
158.959 |
|
(c) Trade
receivables |
77.765 |
93.260 |
65.654 |
|
(d) Cash
and cash equivalents |
31.522 |
28.768 |
25.450 |
|
(e)
Short-term loans and advances |
38.845 |
41.571 |
39.897 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
241.611 |
327.815 |
289.960 |
|
|
|
|
|
|
TOTAL |
376.146 |
460.343 |
421.610 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
740.092 |
758.102 |
782.585 |
|
|
|
Other Income |
6.218 |
2.942 |
1.639 |
|
|
|
TOTAL (A) |
746.310 |
761.044 |
784.224 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
607.045 |
637.607 |
719.586 |
|
|
|
Purchases of Stock-in-Trade |
0.097 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
79.381 |
(1.930) |
(50.828) |
|
|
|
Employees benefits expense |
9.046 |
7.836 |
6.138 |
|
|
|
Other expenses |
55.328 |
66.103 |
59.131 |
|
|
|
Exceptional Items |
(10.562) |
(6.874) |
0.000 |
|
|
|
TOTAL (B) |
740.335 |
702.742 |
734.027 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
5.975 |
58.302 |
50.197 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
35.005 |
31.688 |
32.728 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(29.030) |
26.614 |
17.469 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
14.768 |
15.759 |
13.458 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(43.798) |
10.855 |
4.011 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(13.628) |
1.564 |
1.284 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(30.170) |
9.291 |
2.727 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(9.28) |
2.86 |
0.84 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.875 |
3.182 |
8.197 |
|
Cash from operations |
94.330 |
27.975 |
15.327 |
|
Net cash used in Operating Activities |
93.830 |
27.575 |
14.366 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(4.08) |
1.23 |
0.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.81 |
7.69 |
6.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.02) |
2.36 |
0.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.43) |
0.08 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.03 |
2.00 |
2.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.18 |
1.07 |
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 |
32.504 |
32.504 |
32.504 |
|
Reserves & Surplus |
90.424 |
99.715 |
69.545 |
|
Net
worth |
122.928 |
132.219 |
102.049 |
|
|
|
|
|
|
long-term borrowings |
27.216 |
47.484 |
105.736 |
|
Short term borrowings |
214.276 |
213.986 |
99.517 |
|
Current maturities of
long-term debts |
8.197 |
3.182 |
1.875 |
|
Total
borrowings |
249.689 |
264.652 |
207.128 |
|
Debt/Equity
ratio |
2.031 |
2.002 |
2.030 |
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) |
|
Sales |
782.585 |
758.102 |
740.092 |
|
|
|
(3.128) |
(2.376) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
782.585 |
758.102 |
740.092 |
|
Profit |
2.727 |
9.291 |
(30.170) |
|
|
0.35% |
1.23% |
(4.08%) |
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 |
Yes |
|
8] |
Designation of contact person |
Yes |
|
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) |
Yes |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
No |
|
18] |
Major suppliers |
Yes |
|
19] |
Major customers |
Yes |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties and Others |
4.718 |
44.679 |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
23.881 |
5.186 |
|
|
|
|
|
Total |
28.599 |
49.865 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10273912 |
27/02/2012 * |
6,200,000.00 |
Small Industries Development Bank of India (SIDBI) |
Kolkata Branch, 8th Floor, Constantia Building, 1 |
B33862434 |
|
2 |
80032690 |
31/03/2014 * |
240,000,000.00 |
THE FEDERAL BANK LTD |
NW 101, BELILIOUS PARK,, EAST WEST BYE PASS ROAD, |
C05624721 |
* Date of charge modification
FIXED ASSETS
- Land
- Plant & Machinery
- Electrical Fittings
- Generator
- Furniture
- Office Equipment
- Computer
- Air Conditioner
- Mobile Phone
- Electrical Fittings
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 records 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.64.03 |
|
|
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.