MIRA INFORM REPORT
|
Report No. : |
324683 |
|
Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORIENT REFRACTORIES LIMITED |
|
|
|
|
Registered
Office : |
804-A, Chiranjiv Tower, 43, Nehru Place, New Delhi-110019, Delhi |
|
Tel. No.: |
91-11-1493-222266/ 4642-5400/ 68 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
26.11.2010 |
|
|
|
|
Com. Reg. No.: |
55-210819 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs 120.139 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28113DL2010PLC210819 |
|
|
|
|
IEC No.: |
0511062478 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCO3850A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Refractories and Monolithics. |
|
|
|
|
No. of Employees
: |
300 (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 |
|
Maximum Credit Limit : |
USD 3900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having a fine track record. The rating takes into consideration healthy financial risk profile
marked by sound liquidity position and fair profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trace 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.
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 |
CARE |
|
Rating |
Long Term Bank Facilities=A+ (Withdrawn) |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
04.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A1+(Withdrawn) |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
04.04.2014 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No: 91-1493-222266/ 222267
LOCATIONS
|
Registered Office : |
804-A, Chiranjiv Tower, 43, Nehru Place, New Delhi-110019, Delhi,
India |
|
Tel. No.: |
91-11-1493-222266/ 4642-5400/ 68 |
|
Mobile No.: |
91-1493-222269 |
|
Fax No.: |
91-11-26443859 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
SP-148 B, RIICO Industrial Area Bhiwadi, District Alwar, Rajasthan,
India |
|
E-Mail : |
DIRECTORS
AS ON 30.07.2014
|
Name : |
Mr. K K Thirani |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. A K Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R S Bajoria |
|
Designation : |
Director |
|
Date of Birth/Age : |
17.05.1943 |
|
Experience : |
Wide
experience in Rubber Industry |
|
Date of Appointment : |
18.10.2011 |
|
Other Directorship : ·
Farseen Rubber Industries Limited ·
Rajputana Investment and Finance Limited ·
Brijbhoomi Farm and Construction Private
Limited ·
Shreedhan Investment and Trading Private Limited ·
Orient Abrasives Limited |
|
|
|
|
|
Name : |
Ms. Barbara Potisk Eibensteiner |
|
Designation : |
Director |
|
Date of Birth/Age : |
09.09.1968 |
|
Qualification : |
Graduation
in Business Administration EFFAS Diploma,
Certified European Financial Analyst Certified International |
|
Experience : |
Finance |
|
Date of Appointment : |
04.03.2013 |
|
|
|
|
Name : |
Mr. Michael John Williams |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Reinhold Steiner |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S G Rajgarhia |
|
Designation : |
Executive Director |
|
Date of Birth/Age : |
67 Years |
|
Qualification : |
B Tech (Hons.) S.M.(MIT) |
|
Experience : |
42 Years |
|
|
|
|
Name : |
Mr. S C Sarin |
|
Designation : |
Director and Technical Advisor |
|
Date of Birth/Age : |
01.10.1945/ 68 years |
|
Qualification : |
B Tech (Hons.) From
IIT, Kharagpur |
|
Experience : |
46 Years/ Wide
experience in Steel and Refractory Industry |
|
Date of Appointment : |
18.10.2011 |
|
|
|
|
Name : |
Mr. Pramod Sagar |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
B Tech (Hons.) |
|
Experience : |
30 Years |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Bhardwaj |
|
Designation : |
Chief Financial Officer |
|
Name : |
Mr. Sanjay Kumar |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
0 |
0.00 |
|
|
|
|
|
|
83637771 |
69.62 |
|
|
83637771 |
69.62 |
|
Total shareholding of Promoter and
Promoter Group (A) |
83637771 |
69.62 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
5517878 |
4.59 |
|
|
51477 |
0.04 |
|
|
1050687 |
0.87 |
|
|
6620042 |
5.51 |
|
|
|
|
|
|
5898006 |
4.91 |
|
|
|
|
|
|
14983967 |
12.47 |
|
|
5974439 |
4.97 |
|
|
3024975 |
2.52 |
|
|
2302547 |
1.92 |
|
|
42150 |
0.04 |
|
|
447278 |
0.37 |
|
|
233000 |
0.19 |
|
|
29881387 |
24.87 |
|
Total Public shareholding (B) |
36501429 |
30.38 |
|
Total (A)+(B) |
120139200 |
100.00 |
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
120139200 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Refractories and Monolithics. |
|
|
|
|
Products : |
--- |
|
|
|
|
Brand Names : |
--- |
|
|
|
|
Agencies Held : |
--- |
|
|
|
|
Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
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Facilities : |
|
|
Auditors : |
|
|
|
|
|
Statutory Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
|
|
|
Cost Auditors : |
|
|
Name : |
K.G. Goyal and Associates Cost Accountants |
|
|
|
|
Internal Auditors : |
|
|
Name : |
Chaturvedi and Partners Chartered Accountants |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Ultimate
holding company : |
RHI
AG, Austria (w.e.f. 26 April, 2013) |
|
|
|
|
Holding
company : |
Dutch
US Holding B.V., Netherlands (w.e.f. 26 April, 2013) |
|
|
|
|
Fellow
subsidiaries : |
·
RHI Clasil Limited(w.e.f. 26 April, 2013) ·
RHI India Private Limited (w.e.f. 26 April,
2013) ·
RHI Refractories Asia Limited, Hong Kong
(w.e.f. 26 April, 2013) · RHI Urmitz AG and Company. KG, Germany (w.e.f. 26 April, 2013) |
|
|
|
|
Individuals/
entities having significant influence over the Company through their voting
rights of 20% or more : |
Dutch
US Holding B.V. (from 4 March, 2013 till 25 April, 2013) |
|
|
|
|
Entities
in which KMP/ Relatives of KMP can exercise significant influence : |
·
Orient Abrasives Limited ·
APM Industries Limited ·
Hindustan General Industries Limited · Perfectpac Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120500000 |
Equity Shares |
Re.1/- each |
Rs.120.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120139200 |
Equity Shares |
Re.1/- each |
Rs.120.139 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
120.139 |
120.139 |
120.139 |
|
(b) Reserves & Surplus |
1577.887 |
1256.473 |
903.705 |
|
(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) |
1698.026 |
1376.612 |
1023.844 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.112 |
12.773 |
|
(c)
Other long term liabilities |
9.332 |
8.850 |
8.240 |
|
(d)
long-term provisions |
22.292 |
17.467 |
10.159 |
|
Total
Non-current Liabilities (3) |
31.624 |
28.429 |
31.172 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
52.420 |
57.169 |
50.226 |
|
(b)
Trade payables |
514.505 |
508.593 |
434.014 |
|
(c)
Other current liabilities |
32.109 |
24.476 |
20.628 |
|
(d)
Short-term provisions |
207.865 |
180.345 |
144.641 |
|
Total
Current Liabilities (4) |
806.899 |
770.583 |
649.509 |
|
|
|
|
|
|
TOTAL |
2536.549 |
2175.624 |
1704.525 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
371.902 |
302.613 |
291.603 |
|
(ii)
Intangible Assets |
0.000 |
1.858 |
1.297 |
|
(iii)
Capital work-in-progress |
0.000 |
15.175 |
4.918 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.057 |
0.057 |
0.057 |
|
(c) Deferred tax assets
(net) |
7.949 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
17.529 |
15.621 |
10.785 |
|
(e)
Other Non-current assets |
5.136 |
5.033 |
5.618 |
|
Total
Non-Current Assets |
402.573 |
340.357 |
314.278 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
60.036 |
|
(b)
Inventories |
715.593 |
633.237 |
569.793 |
|
(c)
Trade receivables |
1126.949 |
993.959 |
715.163 |
|
(d)
Cash and cash equivalents |
261.321 |
179.877 |
11.886 |
|
(e)
Short-term loans and advances |
20.264 |
17.622 |
15.406 |
|
(f)
Other current assets |
9.849 |
10.572 |
17.963 |
|
Total
Current Assets |
2133.976 |
1835.267 |
1390.247 |
|
|
|
|
|
|
TOTAL |
2536.549 |
2175.624 |
1704.525 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4502.058 |
4035.037 |
3605.791 |
|
|
|
Other Income |
64.766 |
41.017 |
13.122 |
|
|
|
TOTAL (A) |
4566.824 |
4076.054 |
3618.913 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1840.818 |
1604.284 |
1536.192 |
|
|
|
Purchases of Stock-in-Trade |
665.127 |
570.114 |
520.530 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(3.314) |
(31.119) |
(73.275) |
|
|
|
Employees benefits expense |
382.594 |
335.594 |
266.053 |
|
|
|
Other expenses |
829.962 |
764.326 |
685.766 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
18.159 |
|
|
|
TOTAL (B) |
3715.187 |
3243.199 |
2953.425 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
851.637 |
832.855 |
665.488 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.434 |
0.749 |
13.141 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
851.203 |
832.106 |
652.347 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.931 |
36.258 |
37.921 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
796.272 |
795.848 |
614.426 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
267.878 |
267.384 |
200.524 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
528.394 |
528.464 |
413.902 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
650.307 |
580.333 |
|
|
TOTAL EARNINGS |
NA |
650.307 |
580.333 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
346.828 |
388.496 |
|
|
|
Stores & Spares |
NA |
10.778 |
4.008 |
|
|
|
Capital Goods |
NA |
0.324 |
4.190 |
|
|
|
Traded goods |
NA |
15.297 |
14.036 |
|
|
TOTAL IMPORTS |
NA |
373.227 |
410.73 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.40 |
4.40 |
3.45 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
567.079 |
600.118 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
PAT / Total Income |
(%) |
11.74 |
13.10 |
11.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.92 |
20.64 |
18.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.49 |
36.84 |
36.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
0.58 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.03 |
0.04 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.64 |
2.38 |
2.14 |
STOCK
PRICES
|
Face Value |
Rs. 1/- |
|
|
|
|
Market Value |
Rs. 90/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
120.139 |
120.139 |
120.139 |
|
Reserves & Surplus |
903.705 |
1256.473 |
1577.887 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1023.844 |
1376.612 |
1698.026 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
50.226 |
57.169 |
52.420 |
|
Total
borrowings |
50.226 |
57.169 |
52.420 |
|
Debt/Equity
ratio |
0.049 |
0.042 |
0.031 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3605.791 |
4035.037 |
4502.058 |
|
|
|
11.904 |
11.574 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3605.791 |
4035.037 |
4502.058 |
|
Profit |
413.902 |
528.464 |
528.394 |
|
|
11.48% |
13.10% |
11.74% |
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 |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
Other loans and advances |
53.779 |
|
|
|
|
Total |
53.779 |
CORPORATE
INFORMATION (AS ON 31.03.2014)
Orient Refractories Limited
(‘the Company’), incorporated on 26 November, 2010 is engaged in manufacturing,
production and distribution of refractories, monolithics and ceramic paper and
has a manufacturing facility in Bhiwadi (Rajasthan).
FUTURE
OUTLOOK (AS ON 31.03.2014)
Introduction of new
government implies positive prospects for the future. Government aims for
sustained growth of 7-8 percent in the next 3-4 years, and focusing to revive
growth in manufacturing and infrastructure sectors. The Directors are hopeful
to sustain the same growth and profitability during the financial year 2014-15.
During first quarter of
2014-15 the profit before tax is ` 1,93.481 million which is approx. 5.00 %
more than the profit before tax (1,84.811 million) of quarter ending on June
30, 2013.The Directors are hopeful that the turnover and profitability of the
Company will increase in the current financial year.
CHANGE
OF REGISTERED OFFICE
The Board of Directors at
their meeting held on 28 May, 2014, approved the change of Registered Office of
the Company to 804-A, Chiranjiv Tower, 43, Nehru Place, New Delhi-110019 from
the earlier office at 1307, Chiranjiv Tower,43, Nehru Place, New Delhi-110019,
with effect from 1 June, 2014.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Estimated amount of
contracts remaining to be executed on capital account and not provided for
(net of capital advances): |
|
|
|
Tangible assets |
29.978 |
2.184 |
|
Intangible
assets |
2.268 |
0.000 |
FIXED ASSETS:
Tangible Assets
- Land
Leasehold
- Leasehold
Improvement
- Buildings
- Plant and
Machinery
- Furniture and
Fixtures
- Office
Equipments
- Vehicles
Intangible Assets
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. 63.76 |
|
|
1 |
Rs. 97.80 |
|
Euro |
1 |
Rs. 69.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRI |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--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.