MIRA INFORM REPORT
|
Report No. : |
327464 |
|
Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
PODDAR DIAMOND LIMITED |
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Registered
Office : |
DC-3111, 3rd Floor, Bharat Diamond Bourse, BKC Road, Bandra
(East), Mumbai – 400051, Maharashtra |
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Tel. No.: |
91- |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.11.2005 |
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Com. Reg. No.: |
11-157264 |
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Capital Investment
/ Paid-up Capital : |
Rs. 55.000 Million |
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CIN No.: [Company Identification
No.] |
U36911MH2005PLC157264 |
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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.] |
AADCP7181M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Diamond. |
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No. of Employees
: |
300 (Approximately) |
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 |
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Status : |
Moderate |
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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. As per ROC the date of balance sheet (i.e. financial filed) is shown
as 31.03.2014 but the documents related to the financial for the year 2014 are
not available from any source. As per available financial of 2013, profit margin of the company seems
to be low. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long-term bank facilities: “BB+” |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
13.04.2015 |
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
|
Name : |
Mr. Deepak |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-23622222 |
|
Date : |
15.06.2015 |
LOCATIONS
|
Registered Office : |
DC-3111, 3rd Floor, Bharat Diamond Bourse, BKC Road, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-23622222 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
Located at · Dahisar (East), Mumbai, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Anil Kantiprasad Poddar |
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Designation : |
Managing Director |
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Address : |
82/B, Paradise Appartments, Nepeansea Road, Mumbai – 400036,
Maharashtra, India |
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Date of Birth/Age : |
21.01.1963 |
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Date of Appointment : |
01.12.2007 |
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PAN No.: |
AABPP3032A |
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DIN No.: |
00141409 |
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Other Directorship :
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Name : |
Mr. Umesh Kantiprasad Poddar |
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Designation : |
Whole-time Director |
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Address : |
42/B, Paradise Appartments, Nepeansea Road, Mumbai – 400036,
Maharashtra, India |
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Date of Birth/Age : |
13.08.1967 |
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Date of Appointment : |
17.10.2013 |
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PAN No.: |
AACPP1313M |
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DIN No.: |
00141447 |
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Other Directorship :
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Name : |
Monika Anil Poddar |
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Designation : |
Director |
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Address : |
82/B, Paradise Appartments, Nepeansea Road, Mumbai – 400036,
Maharashtra, India |
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Date of Birth/Age : |
07.11.1968 |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
00141520 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Deepak |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Anil Poddar |
3296900 |
|
Umesh Poddar |
2199000 |
|
Sharda Devi Poddar |
1000 |
|
Monika Poddar |
1000 |
|
Seema Poddar |
1000 |
|
Anand Poddar |
1000 |
|
Ayush Poddar |
100 |
|
Total |
5500000 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Diamond. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
Belgium |
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Imports : |
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Products : |
-- |
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Countries : |
Belgium |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.R. Kabra and Associates Chartered Accountants |
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Address : |
107, Maker Bhavan – 321, New Marine Lines, Mumbai – 400020, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AGAPK5393A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary : |
· Poddar Gems Limited CIN No.: U74900MH1995PLC088457 |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
· Shreya Diamond Limited · Shrimaa India Limited · Poddar Infraventures Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 55.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
55.000 |
55.000 |
55.000 |
|
(b) Reserves & Surplus |
428.352 |
424.768 |
420.839 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
483.352 |
479.768 |
475.839 |
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(3)
Non-Current Liabilities |
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|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
3.740 |
3.387 |
3.181 |
|
(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) |
3.740 |
3.387 |
3.181 |
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(4) Current Liabilities |
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|
|
|
(a)
Short-term borrowings |
619.515 |
363.485 |
433.368 |
|
(b)
Trade payables |
353.940 |
248.255 |
183.287 |
|
(c)
Other current liabilities |
52.693 |
54.415 |
11.006 |
|
(d)
Short-term provisions |
5.279 |
4.109 |
1.738 |
|
Total
Current Liabilities (4) |
1031.427 |
670.264 |
629.399 |
|
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TOTAL |
1518.519 |
1153.419 |
1108.419 |
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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 |
73.395 |
69.896 |
62.348 |
|
(ii)
Intangible Assets |
1.781 |
2.390 |
3.003 |
|
(iii)
Capital work-in-progress |
6.414 |
2.362 |
0.258 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
187.957 |
188.090 |
180.485 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
2.822 |
3.398 |
1.310 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
272.369 |
266.136 |
247.404 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
631.697 |
629.017 |
322.893 |
|
(c)
Trade receivables |
595.510 |
208.548 |
498.140 |
|
(d)
Cash and cash equivalents |
5.593 |
34.973 |
30.601 |
|
(e)
Short-term loans and advances |
12.786 |
14.196 |
9.381 |
|
(f)
Other current assets |
0.564 |
0.549 |
0.000 |
|
Total
Current Assets |
1246.150 |
887.283 |
861.015 |
|
|
|
|
|
|
TOTAL |
1518.519 |
1153.419 |
1108.419 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
1483.862 |
1414.535 |
1393.650 |
|
|
|
Other Income |
1.138 |
6.012 |
26.235 |
|
|
|
TOTAL (A) |
1485.000 |
1420.547 |
1419.885 |
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|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
872.275 |
394.882 |
316.382 |
|
|
|
Purchases of Stock-in-Trade |
399.180 |
1108.452 |
942.484 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(29.301) |
(308.906) |
0.790 |
|
|
|
Employees benefits expense |
33.539 |
25.195 |
22.641 |
|
|
|
Other expenses |
159.008 |
165.809 |
110.568 |
|
|
|
TOTAL (B) |
1434.701 |
1385.432 |
1392.865 |
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|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
50.299 |
35.115 |
27.020 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
40.806 |
25.863 |
19.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.493 |
9.252 |
7.096 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.171 |
2.917 |
2.320 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
6.322 |
6.335 |
4.776 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.737 |
2.406 |
2.923 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.585 |
3.929 |
1.853 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
882.968 |
1106.915 |
1252.156 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Polished Diamond |
258.300 |
812.408 |
521.542 |
|
|
|
Rough Diamond |
302.822 |
215.057 |
131.283 |
|
|
|
Others Diamond Powder |
7.263 |
4.075 |
9.281 |
|
|
|
Silver and Color Stone |
1.875 |
0.000 |
7.802 |
|
|
TOTAL IMPORTS |
570.260 |
1031.540 |
669.908 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.65 |
0.71 |
0.34 |
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
Sales Turnover (Approximately) |
1600.000 (As claimed by
Mr. Deepak that there is a no demand of diamond in the year of 2014-15) |
1650.000 |
Expected Sales (2015-2016): Rs. 1800.000 Million
The above information has been parted by Mr. Deepak (Accounts
Department).
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.24 |
0.28 |
0.13 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.39 |
2.48 |
1.94 |
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.48 |
0.66 |
0.51 |
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.28 |
0.76 |
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.32 |
1.37 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT
EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
55.000 |
55.000 |
55.000 |
|
Reserves & Surplus |
420.839 |
424.768 |
428.352 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
475.839 |
479.768 |
483.352 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
433.368 |
363.485 |
619.515 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
433.368 |
363.485 |
619.515 |
|
Debt/Equity
ratio |
0.911 |
0.758 |
1.282 |
YEAR-ON-YEAR
GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1393.650 |
1414.535 |
1483.862 |
|
|
|
1.499 |
4.901 |
NET
PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1393.650 |
1414.535 |
1483.862 |
|
Profit |
1.853 |
3.929 |
3.585 |
|
|
0.13% |
0.28% |
0.24% |
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 |
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 |
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 |
No |
|
26 |
Turnover of firm for last five years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible
only due to combination of the manufacturing skills of the Indian workforce and
the untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem and Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a global
voluntary regulatory standard on bank capital adequacy, stress testing and
market liquidity.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10524617 |
15/09/2014 |
19,600,000.00 |
BANK OF INDIA |
OPERA HOUSE BRANCH, HERMES HOUSE, MAMA PARMANAND |
C28161081 |
|
2 |
10008494 |
09/04/2012 * |
700,000,000.00 |
BANK OF INDIA - LEAD BANK |
OPERA HOUSE BRANCH, HERMES HOUSE, MAMA PARMANADA |
B39452016 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
0.133 |
0.155 |
|
Total |
0.133 |
0.155 |
PERFORMANCE
The Company has achieved significant growth during the last financial year. The Company achieved turnover of Rs.1483.800 Million during the year under report as against Rs.1414.500 Million during the previous year, representing an increase of approximately 4.90% of last year’s turnover. However it is sad to note the company was not able to increase its profit after tax mainly because of Financial Cost.
FUTURE OUTLOOK
Companies Expansion cum Modernization project, considering expected future increase in domestic off take and strengthening of export is underway. This will improve the performance in the forthcoming year. The current economic scenario may however affect the results in short term.
FIXED ASSETS
Tangible Assets
· Land
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible Assets
· Goodwill
· Brands and trade marks
· Computer software
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. 64.09 |
|
|
1 |
Rs. 99.57 |
|
Euro |
1 |
Rs. 71.84 |
INFORMATION DETAILS
|
Information Gathered
by : |
MNJ |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--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.