MIRA INFORM REPORT
|
Report No. : |
326119 |
|
Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BEST PAPER MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Ram Niwas, Pranjpe ‘B’ Scheme, Road No.3, Vile Parle (East), Mumbai
– 400 057, Maharashtra |
|
Tel. No.: |
91-22-26135358 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-093122 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.147.572
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21000MH1995PTC093122 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMB06421C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB2782M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Kraft Paper and Importer of Waste Paper. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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. Profits of the company dipped during FY 2014. However, networth of
company is decent. General financial position of the company is sound and
healthy. Trade relations are reported as fair. Business is active. Payment terms
are reported to be usually correct. The subject can be considered normal for business dealings at usual
trade 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and carry moderate
credit risk. |
|
Date |
07.11.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and carry higher
credit risk. |
|
Date |
07.11.2014 |
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
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Manoj Rathod |
|
Designation : |
Export-Import Executive |
|
Contact No.: |
91-22-26135358 |
|
Date : |
05.06.2015 |
LOCATIONS
|
Registered Office : |
2, Ram Niwas, Pranjpe ‘B’ Scheme, Road No.3, Vile Parle (East), Mumbai
– 400 057, Maharashtra, India |
|
Tel. No.: |
91-22-26135358/ 40973000 |
|
Mobile No.: |
91-9904366223 (Mr. Rajeeva Shetty) |
|
Fax No.: |
91-22-26135359/ 40973030 |
|
E-Mail : |
|
|
Area : |
550 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No.57, FGH/A Ghala,
Phase-1, GIDC, Vapi – 396 195, Gujarat, India |
|
Tel. No.: |
91-260-2432991/ 2426998/ 2427265/ 2427266/ 2427267/ 2427268 |
|
Fax No.: |
91-260-2428155/ 2427266 |
|
|
|
|
Factory 2 : |
Plot No.57/FGH/B-2, G.I.D.C, 1st Phase, Vapi – 396 195,
Gujarat, India |
|
Area : |
Total of both Factory 17000 sq. meters |
|
Location : |
Leased |
DIRECTORS
AS ON 04.08.2014
|
Name : |
Mr. Ramesh Kesavji Shah |
|
Designation : |
Managing Director |
|
Address : |
502, Manav Mandir, Sarvodya Nagar, Jain Road, Mulund (West), Mumbai – 400
080, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
26.09.1995 |
|
DIN No: |
00842933 |
|
PAN No.: |
AAEHS7156K |
|
|
|
|
Name : |
Mr. Ketan Keshavji Shah |
|
Designation : |
Whole-time-Director |
|
Address : |
502, Manav Mandir, Sarvodya Nagar, Jain Road, Mulund (West), Mumbai –
400 080, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
26.09.1995 |
|
DIN No: |
01362401 |
|
PAN No.: |
ACKPS4712M |
|
|
|
|
Name : |
Mr. Rajeeva Kalinga Shetty |
|
Designation : |
Director |
|
Address : |
Wing I, L-304, Panchvati Angan, Gurukul Road, Chala Via Vapi,
Vapipardi, Valsad – 396191, Gujarat, India |
|
Date of Birth/Age : |
14.08.1955 |
|
Date of Appointment : |
12.07.2012 |
|
DIN No: |
05336364 |
|
PAN No.: |
AJPPS7419D |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Rathod |
|
Designation : |
Export-Import Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 04.08.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Ramesh Shah |
3430000 |
|
Ketan Shah |
3409600 |
|
Jigna Shah |
425000 |
|
Keshavji Bharmal Shah (HUF) |
20000 |
|
Keshavji Bharmal Shah |
45500 |
|
Ketan Keshavji Shah (HUF) |
17500 |
|
Pushpaben Keshavji Shah |
30000 |
|
Ramesh Keshavji Shah (HUF) |
432500 |
|
Sumaria Family Trust, India |
1400000 |
|
Sheetal Haria |
50000 |
|
Rohit Plasto Pack Private Limited,
India |
3053730 |
|
Kantilal Lakamshi Haria (HUF) |
600 |
|
Manish Kantilal Haria |
600 |
|
Bimal Kantilal Haria |
600 |
|
Pravinchandra Hirji Shah |
600 |
|
Total
|
12316230 |
|
Names of Preferences Shareholders |
No. of Shares |
|
Sheetal Haria |
2441000 |
|
Total |
2441000 |
AS ON 04.08.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
61.40 |
|
Directors
or relatives of directors |
|
38.60 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Kraft Paper and Importer of Waste Paper. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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|
Products : |
Craft Paper |
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Countries : |
Gulf Countries |
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Imports : |
|
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|
Products : |
Waste Paper |
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|
Countries : |
·
USA ·
European Countries |
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|
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Terms : |
|
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|
Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2014):
|
Particulars |
Actual
Production |
|
Kraft
Paper |
94764.180 Mts. |
GENERAL INFORMATION
|
Suppliers : |
|
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|
Customers : |
Wholesalers and Retailers
|
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No. of Employees : |
250 (Approximately) |
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|
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Bankers : |
·
Bank
of Maharashtra, Andheri (West), Mumbai – 400 058, Maharashtra, India ·
Bank
of Maharashtra, Krishna Villa, Mongibhai Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India ·
IDBI
Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai, Maharashtra,
India ·
State
Bank of India, Commercial Branch, Ahmedabad Paramsiddhi Complex, 3rd
Floor, Opposite V S Hospital, Ellisbridge, Ahmedabad – 380 009, Gujarat,
India ·
State Bank of India, Mid Corporate Group,
Commercial Branch, 3rd Floor, Paramsiddhi Complex, Ellisbridge,
Ahmedabad – 380 009, Gujarat, India |
||||||||||||||||||||||
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|
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunderji Gosar and Company Chartered Accountants |
|
Address : |
301, Hind Rajasthan Building, 95, Dadasaheb
Phalake Road, Near Dadar Railway Station [C. Rly.], Mumbai, Maharashtra,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AANFS5593F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
Kumar International Limited, India (CIN No.: U51909DL1990PLC042409) ·
Rohit Plastopack Private Limited, India (CIN No.:
U24246MH1989PTC160499)
·
Plastex Products Private Limited, India (CIN No.:
U17200MH1976PTC018832)
|
CAPITAL STRUCTURE
AS ON 04.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12500000 |
Equity Shares |
Rs.10/- each |
Rs.125.000 million |
|
2500000 |
Preference Shares |
Rs.10/- each |
Rs.25.000 million |
|
|
Total
|
|
Rs.150.000
million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12316230 |
Equity Shares |
Rs.10/- each |
Rs.123.162
million |
|
2441000 |
Preference Shares |
Rs.10/- each |
Rs.24.410 million |
|
|
Total |
|
Rs.147.572 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 |
147.572 |
97.572 |
97.572 |
|
(b) Reserves &
Surplus |
494.381 |
462.615 |
372.877 |
|
(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) |
641.953 |
560.187 |
470.449 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
361.081 |
295.151 |
240.909 |
|
(b) Deferred tax
liabilities (Net) |
71.489 |
65.245 |
53.762 |
|
(c) Other long term
liabilities |
3.819 |
7.397 |
2.432 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
436.389 |
367.793 |
297.103 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
346.958 |
301.240 |
292.529 |
|
(b) Trade payables |
513.449 |
357.005 |
265.446 |
|
(c) Other current
liabilities |
117.997 |
125.541 |
110.090 |
|
(d) Short-term provisions |
47.923 |
38.357 |
40.699 |
|
Total Current Liabilities
(4) |
1026.327 |
822.143 |
708.764 |
|
|
|
|
|
|
TOTAL |
2104.669 |
1750.123 |
1476.316 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
815.190 |
668.497 |
541.478 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
45.066 |
35.546 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
14.758 |
14.058 |
18.458 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
60.266 |
76.091 |
51.468 |
|
(e) Other Non-current
assets |
1.591 |
1.403 |
7.353 |
|
Total Non-Current Assets |
891.805 |
805.115 |
654.303 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
556.252 |
363.532 |
322.959 |
|
(c) Trade receivables |
527.180 |
497.014 |
384.841 |
|
(d) Cash and cash equivalents |
41.166 |
39.232 |
36.002 |
|
(e) Short-term loans and
advances |
72.083 |
32.623 |
60.184 |
|
(f) Other current assets |
16.183 |
12.607 |
18.027 |
|
Total Current Assets |
1212.864 |
945.008 |
822.013 |
|
|
|
|
|
|
TOTAL |
2104.669 |
1750.123 |
1476.316 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2501.670 |
2765.025 |
2459.195 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2501.670 |
2765.025 |
2459.195 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2337.156 |
2546.525 |
2310.230 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
164.514 |
218.500 |
148.965 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
115.700 |
81.437 |
75.484 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
48.814 |
137.063 |
73.481 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.280 |
33.825 |
14.454 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
38.534 |
103.238 |
59.027 |
|
|
|
|
|
|
|
|
|
Less |
DEFERRED TAX LIABILITY |
6.244 |
11.483 |
7.879 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD INCOME TAX |
0.524 |
2.017 |
0.079 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
396.963 |
307.225 |
256.156 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
428.729 |
396.963 |
307.225 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.61 |
10.58 |
6.05 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
56.133 |
56.526 |
65.876 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
1.54 |
3.73 |
2.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.34 |
8.11 |
5.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.24 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.19 |
1.17 |
1.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.15 |
1.16 |
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 |
97.572 |
97.572 |
147.572 |
|
Reserves & Surplus |
372.877 |
462.615 |
494.381 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
470.449 |
560.187 |
641.953 |
|
|
|
|
|
|
Long-term borrowings |
240.909 |
295.151 |
361.081 |
|
Short term borrowings |
292.529 |
301.240 |
346.958 |
|
Current maturities of long-term debts |
65.876 |
56.526 |
56.133 |
|
Total borrowings |
599.314 |
652.917 |
764.172 |
|
Debt/Equity ratio |
1.274 |
1.166 |
1.190 |
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) |
|
Total Income |
2459.195 |
2765.025 |
2501.670 |
|
|
|
12.436 |
-9.525 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
2459.195 |
2765.025 |
2501.670 |
|
Profit |
59.027 |
103.238 |
38.534 |
|
|
2.40% |
3.73% |
1.54% |
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
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 |
NOTE:
The registered office of the company has been shifted from Haria Centre,
E/8, Subhash Road, Vile Parle (East), Mumbai – 400 057, India to present
address w.e.f. 01.06.2006.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM BORROWINGS |
|
|
|
Intercorporate
Deposits |
3.714 |
3.014 |
|
Loans and
Advances from Directors |
108.513 |
159.572 |
|
Total |
112.227 |
162.586 |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10285028 |
10/04/2015 * |
780,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP,
COMMERCIAL BRANCH, ELLISBRIDGE, "PARAMSIDDHI" COMPLEX, NEAR
MAHAKANT BUILDING, AHMEDABAD, GUJARAT - 380006, INDIA |
C52483815 |
|
2 |
10149979 |
05/06/2014 * |
382,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP,
COMMERCIAL BRANCH, ELLISBRIDGE, "PARAMSIDDHI" COMPLEX, NEAR MAHAKANT
BUILDING, AHMEDABAD, GUJARAT - 380006, INDIA |
C09545856 |
|
3 |
10098458 |
10/04/2015 * |
1,162,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP,
COMMERCIAL BRANCH, ELLISBRIDGE, "PARAMSIDDHI" COMPLEX, NEAR MAHAKANT
BUILDING, AHMEDABAD, GUJARAT - 380006, INDIA |
C52483260 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipments
·
Factory Equipments
·
Emission Reduction Equipment
·
Other Pollution Reduction Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipments
·
Office 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 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.63.90 |
|
UK Pound |
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information Gathered
by : |
REK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.