MIRA INFORM REPORT
|
Report No. : |
325441 |
|
Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
VEER PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
104, Sardar Patel Colony, 1st Floor, |
|
Tel. No.: |
91-79-27681159 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.04.1985 |
|
|
|
|
Com. Reg. No.: |
04-007777 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 76.550 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200GJ1985PTC007777 |
|
|
|
|
IEC No.: |
0888009810 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMV0000501E |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the business of
manufacturing HDPE/PP Woven sacks, Fabrics and Flexible Intermediate Bulk
Containers made out of PP Granules. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Subject was incorporated in 1985. Subject is a part of VEERA GROUP. It
is engaged in the manufacturing of extensive rage of woven and nonwoven
packaging and technical textile products. General financial position of the company seems to be fair. Rating
derives strength from the promoter’s extensive experience in the industry. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. Subject can be considered for business dealings at usual trade terms
and conditions. Note: Information about revenue and profit for FY 2014 gathered from
indirect source. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
June 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
June 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE (91-79-27680550)
LOCATIONS
|
Registered/ Head Office : |
104, Sardar Patel Colony, 1st Floor, Stadium Road, Post
Navjivan, Ahmedabad-380014, Gujarat, India |
|
Tel. No.: |
91-79-27681159 |
|
Fax No.: |
91-79-27680550 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Block No.327, Santej – Vadsar Road, Santej, District Gandhi Nagar,
Gujarat, India |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
7/1, GIDC Estate, Kadi, North Gujarat, India |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Kanwarbirsingh Ajaibsingh Arora |
|
Designation : |
Director |
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age: |
21.04.1952 |
|
Date of Appointment : |
10.04.1985 |
|
Din No.: |
00039504 |
|
|
|
|
Name : |
Mr. Laxmiprasad Jayshanker Dave |
|
Designation : |
Director |
|
Address : |
Rang Darshan Nursury Road, Billomora, Valsad, Gujarat, India |
|
Date of Birth/Age: |
16.11.1933 |
|
Date of Appointment : |
30.09.1996 |
|
Din No.: |
02223624 |
|
|
|
|
Name : |
Mr. Surender Choudhary Keshrichand |
|
Designation : |
Director |
|
Address : |
6, Aditiraj Bunglows, Near Prernatirth Derasar, Jodhpur Cross Road,
Satellite, Ahmedabad-30015, Gujarat, India |
|
Date of Birth/Age: |
05.01.1961 |
|
Date of Appointment : |
20.09.2004 |
|
Din No.: |
00280140 |
|
|
|
|
Name : |
Mr. Harjeevansingh Kanwarbirsingh Arora |
|
Designation : |
Director |
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age: |
22.11.1976 |
|
Date of Appointment : |
25.09.2003 |
|
Din No.: |
02119004 |
|
|
|
|
Name : |
Jasleenkaur Kanwarbir Singh Arora |
|
Designation : |
Director |
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age: |
04.11.1982 |
|
Date of Appointment : |
01.05.2011 |
|
Din No.: |
02119013 |
|
|
|
|
Name : |
Mr. Sukhbirsingh Ajaibsingh Arora |
|
Designation : |
Director |
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age: |
23.11.1954 |
|
Date of Appointment : |
01.10.2013 |
|
Din No.: |
00039513 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares
(Equity Shares) |
No. of Shares
(Preference Shares) |
|
Kanwarbir Singh Ajaib Singh Arora |
58420 |
75000 |
|
Sukhbir Singh Ajaib Singh Arora |
37140 |
50000 |
|
Kanwarbir Singh Ajaib Singh Arora – HUF |
35200 |
-- |
|
Jasleenkaur Kanwarbir Sigh Arora |
58760 |
-- |
|
Manveenkaur Gurprit Singh Arora |
26120 |
-- |
|
Harjeev Singh Kanwarbir Singh Arora |
59020 |
25000 |
|
Sohinder Singh Chhabra |
360 |
-- |
|
Manmohan Kaur Sohinder Singh Chhabra |
1200 |
-- |
|
Gurnish Singh Sohinder Singh Chhabra |
3200 |
-- |
|
Gian Marketing private Limited, India |
65000 |
-- |
|
Karanjeev Singh Sukhbir Singh Arora |
38400 |
-- |
|
Neenakuar Sukhbir Singh Arora |
36960 |
-- |
|
Karan Polypack Private Limited, India |
8000 |
-- |
|
Amerjeetkaur |
20 |
-- |
|
Rajwant Singh – HUF |
20 |
-- |
|
Laxmiprasad J Dave |
20 |
-- |
|
Rajesh L Dave |
20 |
-- |
|
Sukhbir Singh Ajaib Singh Arora – HUF |
10500 |
-- |
|
MAninderkaur Kanwarbir Singh Arora |
59000 |
-- |
|
Jai singh Chauhan |
40000 |
-- |
|
Amrita Kaur Harjeev Singh Arora |
55000 |
-- |
|
Surendra Chaudhary |
7640 |
-- |
|
Daffodil Vintrade Private Limited, India |
-- |
2000 |
|
Ivory Impex (Private) Limited, India |
-- |
3000 |
|
Gopalka Motor Investo Private Limited, India |
--- |
8000 |
|
Sparking Star Infradev Private Limited, India |
-- |
2500 |
|
Total |
600000 |
165500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
12.17 |
|
Directors or relatives of Directors |
67.52 |
|
Other top fifty shareholders |
20.31 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of
manufacturing HDPE/PP Woven sacks, Fabrics and Flexible Intermediate Bulk Containers
made out of PP Granules. |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
|
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|
||||||||||||||||||||||
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Bankers : |
Punjab National Bank, Sola Road, Bhuyangdev Char Rasta, Ghatlodia, Ahmedabad-380061, Gujarat, India
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Shah Associates Chartered Accountant |
|
Address : |
702, Aniket , Near Municipal Market, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFS7036F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AFTER 29.09.2014
Authorised Capital : Rs. 100.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 63.756
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
800000 |
Equity Shares |
Rs.100/- each |
Rs.80.000 Million |
|
200000 |
Preferences Shares |
Rs.100/- each |
Rs.20.000 Million |
|
|
TOTAL
|
|
Rs.100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000 |
Equity Shares |
Rs.100/- each |
Rs.60.000
Million |
|
165500 |
Preferences Shares |
Rs.100/- each |
Rs.16.550
Million |
|
|
TOTAL |
|
Rs.76.550 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 |
76.550 |
76.550 |
76.550 |
|
(b) Reserves & Surplus |
348.145 |
320.576 |
297.762 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
5.000 |
|
Total
Shareholders’ Funds (1) + (2) |
424.695 |
397.126 |
379.312 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
258.387 |
292.991 |
214.060 |
|
(b) Deferred tax liabilities
(Net) |
27.303 |
33.896 |
36.086 |
|
(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) |
285.690 |
326.887 |
250.146 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
421.994 |
426.127 |
397.270 |
|
(b) Trade payables |
111.943 |
104.113 |
96.085 |
|
(c) Other current liabilities |
81.531 |
87.161 |
0.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
76.106 |
|
Total
Current Liabilities (4) |
615.468 |
617.401 |
569.461 |
|
|
|
|
|
|
TOTAL |
1325.853 |
1341.414 |
1198.919 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
443.653 |
478.908 |
461.681 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
9.391 |
14.014 |
19.767 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
27.984 |
27.984 |
25.484 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.278 |
24.950 |
60.457 |
|
(e) Other Non-current assets |
4.329 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
505.635 |
545.856 |
567.389 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
425.997 |
296.973 |
348.458 |
|
(c) Trade receivables |
196.103 |
291.932 |
135.702 |
|
(d) Cash and cash equivalents |
3.524 |
39.544 |
28.679 |
|
(e) Short-term loans and
advances |
143.772 |
133.577 |
93.216 |
|
(f) Other current assets |
50.822 |
33.532 |
25.475 |
|
Total
Current Assets |
820.218 |
795.558 |
631.530 |
|
|
|
|
|
|
TOTAL |
1325.853 |
1341.414 |
1198.919 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
|
|
|
|
|
|
OPERATING INCOME |
2514.000
|
|
|
|
|
|
|
PROFIT AFTER TAX |
27.600 |
NOTE: Above information
has been taken from indirect source i.e ICRA
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Sales Turnover |
NA |
2227.553 |
2206.998 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
188.568 |
179.256 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
80.882 |
78.946 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
107.686 |
100.310 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
69.898 |
63.214 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
37.788 |
37.096 |
|
|
|
|
|
|
|
Less |
TAX |
|
14.974 |
14.846 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
22.814 |
22.250 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
875.630 |
421.823 |
387.652 |
|
|
TOTAL
EARNINGS |
875.630 |
421.823 |
387.652 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
123.610 |
87.292 |
|
|
Plant & Machineries |
3.864 |
3.662 |
0.100 |
|
|
Stores & Spares |
0.451 |
0.466 |
0.000 |
|
|
TOTAL
IMPORTS |
4.315 |
127.738 |
87.392 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
NA |
NA |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
40.046 |
53.549 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
2.91 |
3.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.10 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.70 |
1.95 |
1.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.29 |
1.11 |
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 |
76.550 |
76.550 |
76.550 |
|
Reserves & Surplus |
297.762 |
320.576 |
348.145 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
5.000 |
0.000 |
0.000 |
|
Net
worth |
379.312 |
397.126 |
424.695 |
|
|
|
|
|
|
long-term borrowings |
214.060 |
292.991 |
258.387 |
|
Short term borrowings |
397.270 |
426.127 |
421.994 |
|
Current Maturities Of
Long-Term Debts |
0.000 |
53.549 |
40.046 |
|
Total
borrowings |
611.330 |
772.667 |
720.427 |
|
Debt/Equity
ratio |
1.612 |
1.946 |
1.696 |
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 Turnover/ Operating Income |
2206.998 |
2227.553 |
2514.000 |
|
|
|
0.931 |
12.859 |
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 Turnover/ Operating
Income |
2206.998 |
2227.553 |
2514.000 |
|
Profit |
22.250 |
22.814 |
27.600 |
|
|
1.01% |
1.02% |
1.10% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
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 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 |
NATURE OF BUSINESS
Subject is a Company registered under the Indian Companies Act 1956. The Company is primarily engaged in the business of manufacturing HDPE/PP Woven sacks, Fabrics and Flexible Intermediate Bulk Containers made out of PP Granules. The Company was incorporated on 10 th April, 1985 and is into this business for more than 2 decades. The Company has installed latest state of the art technology for manufacture of woven fabrics and sacks.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
89.987 |
85.480 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others |
46.931 |
97.656 |
|
Total |
136.918 |
183.136 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90107122 |
28/08/2014 * |
800,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPP. V.S.HOSPITAL, ELLIBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
C21819842 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
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 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.63.61 |
|
UK Pound |
1 |
Rs.97.27 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.