MIRA INFORM REPORT
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Report No. : |
322089 |
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Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
REVERIE CONSTRUCTIONS AND SOLAR SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
1st Floor, Mathew Paulo Arcade, K.M.K Junction, North
Paravoor, Ernakulam – 683513, Kerala |
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Tel. No.: |
91-484-2440109 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
30.11.2012 |
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Com. Reg. No.: |
09-032792 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U70100KL2012PTC032792 |
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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.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Solar Inverter and Controllers
and Solar Garden and Yard Lights and also engaged in Real Estate activities. |
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|
No. of Employees
: |
12 (Approximately) (In Office 2
+ In Factory 10) |
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 |
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Maximum Credit Limit : |
USD 100 |
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Status : |
Moderate |
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Payment Behavior : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating takes into consideration the company’s moderate financial risk
profile marked by low profitability levels and huge external borrowing taken
by the company, which acts as threatening to liquidity position of the
company. Subject has incurred operational loss which has eroded its reserves. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mrs. Zaina Sasi |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9747548694 |
|
Date : |
16.05.2015 |
LOCATIONS
|
Registered Office /Factory : |
1st Floor, Mathew Paulo Arcade, K.M.K Junction, North
Paravoor, Ernakulam – 683513, Kerala, India |
|
Tel. No.: |
91-484-2440109 |
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Mobile No.: |
91-9747548694 (Mrs. Zaina) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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DIRECTORS
AS ON 30.09.2014
|
Name : |
Mrs. Zaina Sasi |
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Designation : |
Managing Director |
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Address : |
3-107, Mundoli Pallath, Karingamthuruth, Kongorpilly Post, Ernakulam –
683518, Kerala, India |
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Date of Birth/Age : |
29.05.1967 |
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Qualification : |
B.Com |
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Date of Appointment : |
30.11.2012 |
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DIN No.: |
06422519 |
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Name : |
Mr. Kalathilrambil Raman Sunil |
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Designation : |
Director |
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Address : |
V/194, Kalathiparambil House, South Aduvassery Post, North Paravoor,
Ernakulam – 683574, Kerala, India |
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Date of Birth/Age : |
21.09.1966 |
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Qualification : |
Diploma in Civil Engineer |
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Date of Appointment : |
30.11.2012 |
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DIN No.: |
01990227 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Zaina Sasi |
5000 |
50.00 |
|
K R Sunil |
5000 |
50.00 |
|
Total |
10000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Solar Inverter and Controllers
and Solar Garden and Yard Lights and also engaged in Real Estate activities. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
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Countries : |
Middle East |
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Imports : |
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Products : |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler and Retailers
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No. of Employees : |
12 (Approximately) (In Office 2
+ In Factory 10) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
P. Rajkumar and Company Chartered Accountants |
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Address : |
Pereckad Lane, Bank Junction, Alluva – 683101, Kerala, India |
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Tel. No.: |
91-484-2622887 / 4063189 |
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Mobile No.: |
91-9447404189 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACPPR6025D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
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|
(a) Share Capital |
|
0.100 |
0.100 |
|
(b) Reserves & Surplus |
|
(0.054) |
(0.062) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
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|
|
|
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|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
0.046 |
0.038 |
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(3)
Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
|
9.114 |
2.551 |
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(b) Deferred tax liabilities (Net) |
|
0.002 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
9.116 |
2.551 |
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(4)
Current Liabilities |
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|
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|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
0.489 |
0.100 |
|
(c) Other
current liabilities |
|
0.000 |
0.000 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
0.489 |
0.100 |
|
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|
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TOTAL |
|
9.651 |
2.689 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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|
(i)
Tangible assets |
|
0.356 |
0.188 |
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(ii)
Intangible Assets |
|
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
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(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
|
0.000 |
0.001 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
|
0.050 |
0.050 |
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(e) Other
Non-current assets |
|
0.000 |
0.000 |
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Total Non-Current
Assets |
|
0.406 |
0.239 |
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|
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(2)
Current assets |
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(a)
Current investments |
|
0.000 |
0.000 |
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(b)
Inventories |
|
7.390 |
1.910 |
|
(c) Trade
receivables |
|
1.738 |
0.000 |
|
(d) Cash and
cash equivalents |
|
0.076 |
0.190 |
|
(e)
Short-term loans and advances |
|
0.041 |
0.350 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
9.245 |
2.450 |
|
|
|
|
|
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TOTAL |
|
9.651 |
2.689 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
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|
SALES |
|
|
|
|
|
|
|
Gross Income |
|
1.970 |
0.000 |
|
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Other Income |
|
NA |
NA |
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TOTAL |
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|
Less |
EXPENSES |
|
NA |
NA |
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|
LOSS
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
0.173 |
(0.074) |
|
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|
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|
|
|
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|
Less |
FINANCIAL
EXPENSES |
|
0.120 |
0.000 |
|
|
|
|
|
|
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|
LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.053 |
(0.074) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
0.043 |
(0.012) |
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|
LOSS BEFORE TAX |
|
0.010 |
(0.062) |
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Less |
TAX |
|
0.002 |
0.000 |
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|
LOSS AFTER TAX |
|
0.008 |
(0.062) |
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|
Earnings Per
Share (Rs.) |
|
0.80 |
(6.20) |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2.500 |
The above information has been parted by Mrs. Zaina Sasi (Managing Director).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
|
Cash generated from operations |
0.000 |
0.000 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
|
0.40 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
|
100.00 |
0.00 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.10 |
(2.31) |
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.22 |
(1.63) |
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|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
|
198.13 |
67.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
18.91 |
24.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.100 |
0.100 |
|
Reserves & Surplus |
(0.062) |
(0.054) |
|
Money received against share
warrants |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
|
Net worth |
0.038 |
0.046 |
|
|
|
|
|
long-term borrowings |
2.551 |
9.114 |
|
Short term borrowings |
0.000 |
0.000 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
0.000 |
|
Total borrowings |
2.551 |
9.114 |
|
Debt/Equity ratio |
67.132 |
198.130 |
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 |
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Other Parties |
1.369 |
0.000 |
|
|
|
|
|
From Directors |
|
|
|
Loans and Advances from Related Parties |
5.260 |
2.551 |
|
|
|
|
|
Total |
6.629 |
2.551 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10543122 |
07/01/2015 |
4000000 |
THE ERNAKULAM DISTRICT CO-OPERATIVE BANK Limited |
KAKKANAD, COCHIN, Kerala - 682030, INDIA |
C40493231 |
|
2 |
10474291 |
13/12/2013 |
2500000 |
Federal Bank Limited |
Federal Bank, Bank Junction Branch, Aluva, Kerala - 683101, INDIA |
B94971397 |
FIXED ASSETS
- Furniture and
Fixtures
- Tools and
Equipments
- Vehicles
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.97.79 |
|
Euro |
1 |
Rs.69.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
DDD |
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 |
5 |
|
--RESERVES |
1~10 |
1 |
|
--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
unfavorable 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.