MIRA INFORM REPORT
|
Report No. : |
324496 |
|
Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BVG INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
18 ‘A’ Phase-V, IDA, Jeedimetla, Hyderabad – 500035, Telangana |
|
Tel. No.: |
91-11-43242424 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
28.07.1994 |
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|
|
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Com. Reg. No.: |
01- 018011 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.2.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999TG1994PLC018011 |
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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 : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Trader and Importer of Building and Construction Material. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 70000 |
|
|
. |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The rating reflects company’s healthy financial risk profile marked by
sound liquidity position and fair profitability margins of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sandeep |
|
Designation : |
Account Manager |
|
Contact No.: |
91-11-43242424 |
|
Date : |
29.05.2015 |
LOCATIONS
|
Registered Office : |
18 ‘A’ Phase-V, IDA, Jeedimetla, Hyderabad – 500035, Telangana, India |
|
Tel No: |
91-40-23095499 |
|
Fax No: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
No. 2, 1st Floor, Lane 1, West End Mary, Said UI Ajab
Saket, New Delhi – 110030, India |
|
Tel. No.: |
91-11-43242424 |
|
|
|
|
Head Office : |
505, 5th floor, Edaikode Towers, Srinagar Colony, Hyderabad - 500073, Telangana, India |
|
|
|
|
Branch Office: |
30, South End Road, Basavangudi, Bangalore – 560004, Karnataka, India |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Ved Prakash Goyal |
|
Designation : |
Director |
|
Address : |
F.No:500, A and B, Edaicode Tower, 8-3-1071, Srinagar Colony,
Hyderabad – 500073, Telangana, India |
|
Date of Birth/Age : |
02.12.1952 |
|
Date of Appointment : |
28.07.1994 |
|
DIN No.: |
00554848 |
|
|
|
|
Name : |
Ms. Shikha Goyal |
|
Designation : |
Director |
|
Address : |
18-A, Road 1 Phase V, IDA, Jeedimetla, Hyderabad – 500055, Telangana, India |
|
Date of Birth/Age : |
26.01.1954 |
|
Date of Appointment : |
12.01.1995 |
|
DIN No.: |
00554871 |
|
|
|
|
Name : |
Mr. Vishal Goyal |
|
Designation : |
Director |
|
Address : |
18-A, Road 1 Phase V, IDA, Jeedimetla, Hyderabad – 500055, Telangana, India |
|
Date of Birth/Age : |
26.09.1977 |
|
Date of Appointment : |
03.04.2001 |
|
DIN No.: |
00554888 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Natarajan Narayanaswamy |
|
10 |
|
Ved Prakash Goyal |
|
88690 |
|
Shika Goyal |
|
160760 |
|
Sushil Kumar Bose |
|
10 |
|
Suresh Gurbani |
|
10 |
|
Preetam Lalwani |
|
10 |
|
Brahma K. Gurbani |
|
10 |
|
Vishal Goyal |
|
500 |
|
Total |
|
250000 |
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 : |
Trader and Importer of Building and Construction Material. |
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|
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Products : |
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|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Building and Construction Materials |
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Countries : |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Oriental Bank of Commerce : 6-3-865, My Home Jupally, Greenland,
Ameerpet, Hyderabad – 500016, Andhra Pradesh, India |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
MGRK Associates Chartered Accountants |
|
Address : |
96, Seshachal Colony, East Maredpally, Secunderabad – 500026, Telangana, India |
|
Tel. No.: |
91-40-27731817 / 65215447 |
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Fax No.: |
91-40-40179348 |
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PAN No.: |
AACFM8797Q |
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Memberships : |
-- |
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Collaborators : |
--- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs .2.500
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 |
2.500 |
2.500 |
2.500 |
|
(b) Reserves & Surplus |
20.558 |
15.078 |
10.021 |
|
(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) |
23.058 |
17.578 |
12.521 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
1.515 |
2.822 |
2.825 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
1.515 |
2.822 |
2.825 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
23.054 |
15.891 |
9.750 |
|
(b) Trade payables |
6.867 |
4.820 |
4.104 |
|
(c) Other current
liabilities |
8.619 |
10.680 |
11.414 |
|
(d) Short-term
provisions |
20.856 |
16.636 |
11.096 |
|
Total Current
Liabilities (4) |
59.396 |
48.027 |
36.364 |
|
|
|
|
|
|
TOTAL |
83.969 |
68.427 |
51.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.805 |
4.953 |
5.501 |
|
(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) |
0.381 |
0.240 |
0.159 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4.186 |
5.193 |
5.660 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
19.264 |
10.291 |
7.806 |
|
(c) Trade receivables |
27.386 |
22.093 |
12.924 |
|
(d) Cash and cash
equivalents |
12.146 |
10.556 |
9.680 |
|
(e) Short-term loans
and advances |
20.987 |
20.294 |
15.640 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
79.783 |
63.234 |
46.050 |
|
|
|
|
|
|
TOTAL |
83.969 |
68.427 |
51.710 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
159.083 |
129.390 |
107.824 |
|
|
|
Other Income |
3.685 |
1.499 |
0.830 |
|
|
|
TOTAL |
162.768 |
130.889 |
108.654 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
126.631 |
92.212 |
77.251 |
|
|
|
Changes in inventories of Stock-in-Trade |
(8.973) |
(2.485) |
(1.101) |
|
|
|
Employees benefits expense |
13.037 |
11.561 |
8.160 |
|
|
|
Other expenses |
18.387 |
17.789 |
14.859 |
|
|
|
TOTAL |
149.082 |
119.077 |
99.169 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
13.686 |
11.812 |
9.485 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.221 |
2.390 |
1.923 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.465 |
9.422 |
7.562 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.336 |
1.454 |
0.804 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.129 |
7.968 |
6.758 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.359 |
2.420 |
2.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
5.770 |
5.548 |
4.449 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.553 |
9.345 |
5.238 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.275 |
0.050 |
0.050 |
|
|
|
Tax on Dividend |
0.290 |
0.290 |
0.292 |
|
|
BALANCE CARRIED
TO THE B/S |
19.758 |
14.553 |
9.345 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.08 |
21.39 |
17.80 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.509 |
0.547 |
0.814 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
3.63 |
4.29 |
4.13 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
8.60 |
9.13 |
8.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.92 |
11.69 |
13.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.45 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09 |
1.10 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.32 |
1.27 |
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 |
2.500 |
2.500 |
2.500 |
|
Reserves & Surplus |
10.021 |
15.078 |
20.558 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
12.521 |
17.578 |
23.058 |
|
|
|
|
|
|
long-term borrowings |
2.825 |
2.822 |
1.515 |
|
Short term borrowings |
9.750 |
15.891 |
23.054 |
|
Current Maturities of
Long Term Debt |
0.814 |
0.547 |
0.509 |
|
Total borrowings |
13.389 |
19.260 |
25.078 |
|
Debt/Equity ratio |
1.069 |
1.096 |
1.088 |
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 |
107.824 |
129.390 |
159.083 |
|
|
|
20.001 |
22.948 |
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 |
107.824 |
129.390 |
159.083 |
|
Profit |
4.449 |
5.548 |
5.770 |
|
|
4.13% |
4.29% |
3.63% |
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10380116 |
17/09/2012 |
600,000.00 |
ORIENTAL BANK OF COMMERCE |
8-3-988/42, MAIN ROAD,, SRINAGAR COLONY, HYDERABA |
B59523217 |
|
2 |
10277963 |
13/10/2014 * |
61,000,000.00 |
ORIENTAL BANK OF COMMERCE |
6-3-865, MY HOME JUPALLY,, GREENLAND, AMEERPET, H |
C40446361 |
* Date of charge modification
BUSINESS
OPERATIONS:
During the year company achieved 24% growth in the turnover compare to
the last year and the profit after tax is increased by 4%. The directors are
confident to maintain the same level of performance in the coming years.
FIXED ASSETS:
- Plant and Machinery
- Electrical Installation
- Furniture and Fixtures
- Office Equipments
- Computers
- Car
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.63.85 |
|
|
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.