MIRA INFORM REPORT
|
Report No. : |
326553 |
|
Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNIPLY INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
#69, Nelveli Village, Uthiramerur Block,
Kancheepuram - 603107, Tamilnadu |
|
Tel No: |
91-44-2660 5995 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
18-036484 |
|
|
|
|
Com. Reg. No.: |
04.09.1996 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 173.137 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L20293TN1996PLC036484 |
|
|
|
|
IEC No.: |
0496028529 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU1411A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Plywood. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. Subject was incorporated in 1996. It is engaged in manufacturing of
plywood. Rating takes into consideration moderate financial risk profile marked
by relatively high gearing, intense competition in the sector, volatility in
the raw material prices and low profit margin. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In the view of established track record and vast experience of the
promoters, the subject can be considered for business dealings 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term rating = BB- |
|
Rating Explanation |
Inadequate Credit Quality and High Credit Risk |
|
Date |
July 08,2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term rating = A4 |
|
Rating Explanation |
Minimal Degree of Safety and Very High Credit Risk |
|
Date |
July 08,2014 |
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 : |
Ms. Padmani |
|
Designation : |
HR |
|
Contact No.: |
91-44-26605995 |
|
Date : |
08.06.2015 |
LOCATIONS
|
Registered Office / Factory : |
#69, Nelveli Village,
Uthiramerur Block, Kancheepuram - 603107, Tamilnadu, India |
|
Tel. No.: |
91-44-2660 5995 |
|
Fax No.: |
91-44 -2660 2273 |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
#5, Branson Garden Street,
Kilpauk, Chennai - 600010, Tamilnadu, India |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch 1 : |
Old No. 6, Ayyappa
Temple Road, Subbaiyanapalya, Bangalore - 560043, Karnataka, India |
|
|
|
|
Branch 2 : |
102, 1st Floor, Kala
Mandir Co-operative Housing Society Limited, Chitrakar Kether Road, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
|
|
|
|
Branch 3 : |
A-2/61, Marble Market, WHS, Kirti Nagar, New
Delhi - 110 015, India |
|
|
|
|
Regional Offices
: |
Located at
|
DIRECTORS
As on 31.03.2014
|
Name : |
B.L. Bengani |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth : |
05.02.1960 |
|
Qualification : |
B.Com |
|
|
|
|
Name : |
Mr. Sudhir Kumar
Jena |
|
Designation : |
Director |
|
Date of Birth : |
17.04.1963 |
|
Qualification : |
Chartered Accountant |
|
|
|
|
Name : |
Mr. R. Kuppu Rao |
|
Designation : |
Director (resigned w.e.f. 20.07.2014) |
|
|
|
|
Name : |
Mr. Ramakanta Panda |
|
Designation : |
Director |
|
Date of Birth : |
26.01.1976 |
|
Qualification : |
B.A., LLB |
|
|
|
|
Name : |
Ms. Shaine Sunny
Mundaplakkal |
|
Designation : |
Director |
|
Date of Birth : |
03.07.1989 |
|
Qualification : |
B.Tech (IT) |
KEY EXECUTIVES
|
Name : |
Mr. Raghuram Nath |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Antaryami Sahoo |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Ms. Padmani |
|
Designation : |
HR |
SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
6245189 |
36.07 |
|
|
6245189 |
36.07 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6245189 |
36.07 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
14000 |
0.08 |
|
|
14000 |
0.08 |
|
|
|
|
|
|
5083784 |
29.36 |
|
|
|
|
|
|
3317960 |
19.23 |
|
|
2125021 |
12.27 |
|
|
515583 |
2.98 |
|
|
44307 |
0.26 |
|
|
426815 |
2.47 |
|
|
44461 |
0.26 |
|
|
11042348 |
63.85 |
|
Total Public shareholding (B) |
11056348 |
63.93 |
|
Total (A)+(B) |
17301537 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
17301537 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Plywood. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
UNIPLY AND ELEMENTZ |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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|||||||||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
|
|
|
Auditors : |
|
|
Name : |
C. Ramasamy and B. Srinivasan Chartered Accountant |
|
Address : |
37, Alagiri Nagar II Street, Vadapalani, Chennai – 600026, Tamilnadu,
India |
|
Tel. No.: |
91-44-40459999 |
|
Fax No.: |
91-44-40459995 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associate : |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 173.137 Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17313743 |
Equity Shares |
Rs.10/- each |
Rs. 173.137
Million |
|
|
|
|
|
Reconciliation of
Shares:
|
Particulars |
31.03.2014 |
|
No. of Shares |
|
|
Opening Share Capital |
14363743 |
|
Add: Shares issued during the year |
2950000 |
|
Add: Rights / Bonus Shares Issued |
-- |
|
Total |
17313743 |
|
Less: Buy back of Shares |
-- |
|
Less Reduction in Capital |
-- |
|
Closing Share Capital |
17313743 |
- The company has issued only one class of
equity shares having a par value of Rs.10/- per share. Each holder of
equity share is entitled to one vote per share.
·
During the year company has issued 29,50,000 equity
shares of Rs.10/- each fully paid and allotted on 25.03.2014.
List of Shareholders having 5% or more
Shares (In Nos):
|
Name of Shareholders |
31.03.2014 |
|
|
In Nos |
In % |
|
|
B L Bengani |
4472693 |
25.83 |
|
B L Bengani - HUF |
-- |
-- |
|
Dugar Merchandise Private Limited |
1772496 |
10.24 |
|
Raimcom Sales Private Limited |
-- |
-- |
|
Deeksha Marketing Private Limited |
924977 |
5.34 |
As per of the company,
including its register of shareholders or members.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
173.137 |
173.137 |
143.637 |
|
(b) Reserves & Surplus |
107.609 |
106.053 |
135.541 |
|
(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) |
280.746 |
279.190 |
279.178 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
30.287 |
28.428 |
27.237 |
|
(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 |
0.781 |
1.000 |
|
Total Non-current
Liabilities (3) |
30.287 |
29.209 |
28.237 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
587.249 |
520.499 |
383.795 |
|
(b) Trade
payables |
324.004 |
310.876 |
438.728 |
|
(c) Other current
liabilities |
9.356 |
12.585 |
28.279 |
|
(d) Short-term
provisions |
2.494 |
0.010 |
0.010 |
|
Total Current
Liabilities (4) |
923.103 |
843.970 |
850.812 |
|
|
|
|
|
|
TOTAL |
1234.136 |
1152.369 |
1158.227 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
255.948 |
272.365 |
287.189 |
|
(ii)
Intangible Assets |
0.000 |
0.068 |
0.080 |
|
(iii)
Capital work-in-progress |
0.000 |
0.391 |
0.067 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.444 |
0.455 |
0.986 |
|
(c) Deferred tax assets (net) |
38.519 |
39.214 |
26.027 |
|
(d) Long-term Loan and Advances |
7.506 |
7.475 |
8.549 |
|
(e) Other Non-current
assets |
5.835 |
5.835 |
5.835 |
|
Total Non-Current
Assets |
308.252 |
325.803 |
328.733 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
666.133 |
593.485 |
558.886 |
|
(c) Trade
receivables |
238.655 |
205.822 |
226.146 |
|
(d) Cash
and cash equivalents |
6.266 |
15.035 |
25.932 |
|
(e)
Short-term loans and advances |
8.102 |
5.381 |
11.824 |
|
(f) Other
current assets |
6.728 |
6.843 |
6.706 |
|
Total
Current Assets |
925.884 |
826.566 |
829.494 |
|
|
|
|
|
|
TOTAL |
1234.136 |
1152.369 |
1158.227 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1073.654 |
1460.332 |
1222.139 |
|
|
|
Other Income |
1.125 |
1.212 |
2.228 |
|
|
|
TOTAL |
1074.779 |
1461.544 |
1224.367 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
715.197 |
1271.680 |
949.920 |
|
|
|
Purchases of Stock-in-Trade |
70.943 |
95.466 |
83.189 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
27.196 |
(170.294) |
8.399 |
|
|
|
Employees benefits expense |
85.006 |
102.089 |
77.035 |
|
|
|
Other expenses |
61.541 |
119.420 |
86.946 |
|
|
|
TOTAL
|
|
1418.361 |
1205.489 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
114.896 |
43.183 |
18.878 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
92.038 |
69.828 |
63.131 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
22.858 |
(26.645) |
(44.253) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
18.275 |
16.030 |
14.942 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.583 |
(42.675) |
(59.195) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.695 |
(13.187) |
(18.225) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.888 |
(29.488) |
(40.970) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(95.658) |
(66.170) |
(25.200) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(91.770) |
(95.658) |
(66.170) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
NA |
241.351 |
358.603 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.22 |
(1.70) |
(2.85) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
9.076 |
27.794 |
|
Cash generated from operations |
NA |
(95.152) |
53.034 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.36 |
(2.02) |
(3.35) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
10.70 |
2.96 |
1.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.38 |
(3.84) |
(5.23) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
(0.15) |
(0.21) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.20 |
1.97 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
0.98 |
0.97 |
STOCK
PRICES
|
Face Value |
Rs.10.00 |
|
Market Value |
Rs.38.75 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
143.637 |
173.137 |
173.137 |
|
Reserves & Surplus |
135.541 |
106.053 |
107.609 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
279.178 |
279.190 |
280.746 |
|
|
|
|
|
|
long-term borrowings |
27.237 |
28.428 |
30.287 |
|
Short term borrowings |
383.795 |
520.499 |
587.249 |
|
Total
borrowings |
411.032 |
548.927 |
617.536 |
|
Debt/Equity
ratio |
1.472 |
1.966 |
2.200 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1222.139 |
1460.332 |
1073.654 |
|
|
|
19.490 |
-26.479 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1222.139 |
1460.332 |
1073.654 |
|
Profit |
(40.970) |
(29.488) |
3.888 |
|
|
(3.35%) |
(2.02%) |
0.36% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
Long Term
Borrowing |
|
|
|
Loans and
Advances from Others |
|
|
|
Inter Corporate Loans |
|
27.500 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Loans repayable
on demand From Bank |
NA |
|
|
Inter Corporate Loans |
|
22.500 |
|
Other loans and
advances |
|
|
|
Short Term Credit from
Bank - Buyers Credit - State Bank India |
|
0.000 |
|
Total |
|
50.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10026957 |
15/02/2014 * |
632,400,000.00 |
State Bank of
India |
Commercial Branch, No.232 NSC Bose Road,
Chennai, |
B98022817 |
* Date of charge modification
FIXED ASSETS
- Land and
Building
- Plant and
Machinery
- Furniture and
fixture
- Vehicles
- Office
Equipment
- Others
- Compacters
- Electrical and Fitting
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 records 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. 64.11 |
|
|
1 |
Rs. 97.84 |
|
Euro |
1 |
Rs. 71.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.