MIRA INFORM REPORT
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Report No. : |
328195 |
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Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
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Name : |
THERMOSOL GLASS INDIA PRIVATE LIMITED (w.e.f. 27.09.2012) |
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Formerly Known
As : |
GURIND GLASS PRIVATE LIMITED |
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Registered Office
: |
Jindal House, 1/9-B, Asaf Ali Road, New Delhi-110002 |
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Tel. No.: |
91-11-23233022 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.06.2004 |
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Com. Reg. No.: |
55-127033 |
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Capital
Investment / Paid-up Capital : |
Rs. 26.725 Million |
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CIN No.: [Company Identification
No.] |
U26101DL2004PTC127033 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELG08390E |
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PAN No.: [Permanent Account No.] |
AACCG2950L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Distribution of Glass for Infrastructure and
Automotive Industry. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 incorporated during the year 2004.
It is engaged in the business of manufacturing and distribution of glass for infrastructure
and automotive industry. It has a moderate track record. For the financial year ended 2014, company has average operational
activity and continuous decline of profitability margin. Further the company has moderate financial risk profile marked by low
reserves position and huge external borrowings taken by the company. However, trade relations are reported as fair. Business is active.
Payments terms are slow but correct. In view of average balance sheet position along with moderate liquidity
profile, 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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating (Suspended): B+ |
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Rating Explanation |
High risk of default |
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Date |
29.03.2015 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating (Suspended): A4 |
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Rating Explanation |
Minimal degree of safety and carry very high
credit risk. |
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Date |
29.03.2015 |
Note: Reason for Suspended: Non Corporation by
the company to undertake the ratings.
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 DECLINED BY
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Name : |
Mr. Kaushal |
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Designation : |
Finance Head |
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Contact No.: |
91-9643002988 |
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Date : |
22.06.2015 |
LOCATIONS
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Registered/ Head Office : |
Jindal House, 1/9-B, Asaf Ali Road, New Delhi-110002, India |
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Tel. No.: |
91-11-23233022 |
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Mobile No.: |
Not Available |
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Fax No.: |
91-11-23237395 |
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E-Mail : |
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Website : |
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Factory 1: |
Trilok Road, Mouza Johron, Kala-Amb, Tehsil Nahan District, Sirmour,
Himachal Pradesh, India |
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Tel. No.: |
91-173-320423/ 325424 |
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Fax No.: |
91-1734-238221 |
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Factory 2: |
Village Khanpar Taluka Rapar, Kutch, Gujarat-370145, India |
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Branch Office: |
Thermosol Glass (A Cargo Motors Enterprise) Cargo
House, Opposite Gandhi Ashram Road, Ahmedabad-380027, Gujarat, India |
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Tel. No.: |
91-79-27556142 |
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Fax No.: |
91-79-27556139 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
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Name : |
Mr. Aditya Nanda |
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Designation : |
Director |
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Address : |
16, Ring Road, Lajpat Nagar-Iv, New Delhi
- 110024, New Delhi-110024, India |
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Date of Birth/Age : |
10.12.1956 |
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Date of Appointment : |
16.01.2006 |
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DIN No.: |
00035037 |
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Other Directorship :
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Name : |
Ms. Anita Nanda |
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Designation : |
Director |
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Address : |
16, Ring Road, Lajpat Nagar - IV, New Delhi-110024, Delhi, India |
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Date of Birth/Age : |
11.12.1959 |
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Date of Appointment : |
07.03.2011 |
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DIN No.: |
00035231 |
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Other Directorship :
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Name : |
Mr. Jayant Nanda |
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Designation : |
Director |
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Address : |
16,Ring Road, Lajpat Nagar IV, New
Delhi-110024, Delhi, India |
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Date of Birth/Age : |
10.12.1956 |
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Date of Appointment : |
21.06.2004 |
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DIN No.: |
00056740 |
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Other Directorship :
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Name : |
Ms. Devki Nanda |
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Designation : |
Director |
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Address : |
16, Ring Road, Lajpat Nagar-IV, New Delhi-110024, Delhi, India |
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Date of Birth/Age : |
15.11.1980 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
00081333 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Kaushal |
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Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
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Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Gurmeet S Singh |
26250 |
0.98 |
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Jayant Nanda |
16250 |
0.61 |
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Aditya Nanda |
1197500 |
44.81 |
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Devki Nanda |
1207500 |
45.18 |
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Cargo Motors Private Limited, India |
225000 |
8.42 |
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Total |
2672500 |
100.00 |
AS ON 30.09.2014
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Bodies
corporate |
8.43 |
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Directors
or relatives of directors |
91.57 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distribution of Glass for Infrastructure and
Automotive Industry. |
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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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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
NOTE LONG-TERM BORROWINGS Condition of Unsecured Loans from Directors. and
Bodv Corporate Unsecured Loans from Directors and Body Corporate are interest
free loan except Karriers Finance private Limited which carries Interest @ 7%
p.a. SHORT TERM BORROWINGS Nature of Security Cash Credit Limit and
Demand Loan from Corporation Bank 1.
Hypothecation of Stock and book debts of the company: 2.
Personal Guarantee of director Mr. Jayant Nanda Credit Limit from
Standard Chartered Bank 1.
Personal Guarantee of director Mr. Jayant Nanda 2.
Corporate Guarantee of Cargo Motors Private Limited Credit Limit from Tata
Capital Limited 1.
Personal Guarantee of director Mr. layant Nanda 2.
Corporate Guarantee of Cargo Motors Private Limited |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ashok Khandelwal Associates Chartered Accountants |
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Address : |
912-B,Indra Prakash, 21, Barakhamba Road, New Delhi-110001, India |
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Tel. No.: |
91-11-23319140 |
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Fax No.: |
91-11-23730523 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAHFA8634P |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2700000 |
Equity Shares |
Rs. 10/- each |
Rs. 27.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2672500 |
Equity Shares |
Rs. 10/- each |
Rs. 26.725
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
26.725 |
26.725 |
4.925 |
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(b) Reserves & Surplus |
14.313 |
13.599 |
13.145 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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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) |
41.038 |
40.324 |
18.070 |
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(3)
Non-Current Liabilities |
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|
|
|
(a) Long-term borrowings |
116.481 |
121.694 |
92.152 |
|
(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) |
116.481 |
121.694 |
92.152 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
81.475 |
88.360 |
91.883 |
|
(b)
Trade payables |
11.488 |
6.148 |
5.809 |
|
(c)
Other current liabilities |
4.773 |
13.693 |
25.930 |
|
(d)
Short-term provisions |
0.223 |
0.141 |
0.103 |
|
Total
Current Liabilities (4) |
97.959 |
108.342 |
123.725 |
|
|
|
|
|
|
TOTAL |
255.478 |
270.360 |
233.947 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
118.558 |
117.500 |
122.891 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
5.615 |
4.281 |
0.000 |
|
(iv) Intangible assets under development |
1.362 |
1.362 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
1.903 |
2.234 |
2.518 |
|
(d) Long-term Loan
and Advances |
6.136 |
5.112 |
4.523 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
133.574 |
130.489 |
129.932 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
49.679 |
46.795 |
46.164 |
|
(c)
Trade receivables |
35.896 |
63.626 |
51.479 |
|
(d)
Cash and cash equivalents |
20.322 |
26.972 |
3.168 |
|
(e)
Short-term loans and advances |
16.007 |
2.478 |
3.204 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
121.904 |
139.871 |
104.015 |
|
|
|
|
|
|
TOTAL |
255.478 |
270.360 |
233.947 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
GROSS TURNOVER |
186.600 |
140.500 |
136.900 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX |
0.714 |
0.454 |
0.328 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4.254 |
1.716 |
12.335 |
|
|
|
Capital Goods |
3.409 |
0.018 |
0.978 |
|
|
TOTAL IMPORTS |
7.663 |
1.734 |
13.313 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.027 |
0.017 |
0.67 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.38 |
0.32 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.82 |
5.21 |
10.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.29 |
0.84 |
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4.925 |
26.725 |
26.725 |
|
Reserves & Surplus |
13.145 |
13.599 |
14.313 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
18.070 |
40.324 |
41.038 |
|
|
|
|
|
|
Long-term borrowings |
92.152 |
121.694 |
116.481 |
|
Short term borrowings |
91.883 |
88.360 |
81.475 |
|
Total
borrowings |
184.035 |
210.054 |
197.956 |
|
Debt/Equity
ratio |
10.185 |
5.209 |
4.824 |
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) |
|
Gross Turnover |
136.900 |
140.500 |
186.600 |
|
|
|
2.630 |
32.811 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Turnover |
136.900 |
140.500 |
186.600 |
|
Profit |
0.328 |
0.454 |
0.714 |
|
|
0.24% |
0.32% |
0.38% |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10293919 |
06/06/2011 |
20,000,000.00 |
CORPORATION BANK |
M-41,CONNAUGHT CIRCUS, NEW DELHI, Delhi - 110001,
|
B15676984 |
|
2 |
10245002 |
12/10/2010 |
50,000,000.00 |
CORPORATION BANK |
M-41,CONNAUGHT CIRCUS BRANCH, NEW DELHI,
Delhi - 1 |
A96602354 |
|
3 |
10141934 |
13/02/2009 |
3,000,000.00 |
DIRECTOR OF INDUSTRIES OF HIMACHAL PRADESH |
THROUGH DISTRICT INDUSTRY CENTER HP, DISTT
SIRMOU |
A56440563 |
|
4 |
10059164 |
22/06/2007 |
32,000,000.00 |
CORPORATION BANK |
CONNAUGHT CIRCUS BRANCH, NEW DELHI, Delhi -
11000 |
A18827071 |
|
5 |
10059158 |
22/06/2007 |
302,000,000.00 |
CORPORATION BANK |
CONNAUGHT CIRCUS BRANCH, NEW DELHI, Delhi -
110001, INDIA |
A18825539 |
|
6 |
80032477 |
13/09/2010 * |
115,800,000.00 |
CORPORATION BANK |
M-41,CONNAUGHT CIRCUS BRANCH, NEW DELHI,
Delhi - 110001, INDIA |
A96605761 |
|
7 |
80032277 |
06/06/2011 * |
180,800,000.00 |
CORPORATION BANK |
M-41,CONNAUGHT CIRCUS, NEW DELHI, Delhi -
110001, INDIA |
B15675820 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and Advances from Related Party From Directors |
0.799 |
0.799 |
|
From Body Corporate |
115.682 |
120.383 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
From Bank Overdraft
from Standard Chartered Bank |
19.514 |
19.402 |
|
From Others |
|
|
|
Working Capital Demand Loan from Tata Capital Limited |
24.566 |
24.610 |
|
Working Capital Demand Loan from Corporation Bank |
5.364 |
0.000 |
|
Total |
165.925 |
165.194 |
CHANGE OF ADDRESS
The Registered Office of the company has been shifted from 60, Janpath,
New Delhi-110001, India to the present address w.e.f 04.09.2012.
MANAGEMENTS DISCUSSION AND
ANALYSIS
The Company have already
been having established image in northem Indian Market. The Company has
successfully accepted the Market Challenges by improvising maximum product mix
and supplied best quality products within time frame. The Company today having
Glass related Experienced Marketing and Production team to meet and tap the
Potential Market so as to achieve the desired results.
Integrated and in house
technology have developed to process Acoustic Laminated Glasses (L.D.G.U),
Colour Laminated Glassses, Ceramic Frit Glasses, Shower Enclosers, Sky Lights,
High Performance Glasses, Bend Glasses.
The Company has already
been establish the Thermosol as a Brand leader by providing the quality and
Logistics support to Many prominent Builders, Developers, Commercial Ventures
Hospitality Sector, Industrial Applicators, Intrior Decorators and Architects.
All most all the real
estate applicators and Leading Fabricators are in their list and giving them
the opportunity to supply the Thermosol Brand Glasses. The Company have
developed the best quality norms at each work station with trained and skilled
work force in place.
The Company has also today
a leading Automotive Glass supplier in Replacement Market even for new
generation Cars /SUVS and to meet further challenges They are ready to supply
to Coach Building Sector -Bigger Laminated Windscreens.
To meet the challenges in
Growing Market in Architectural, Automotive Replacement, Original Vehicle
Manufacturing and Coach Building Sector the Company has decided to enhance the
Plant and Machines and also to invest in state of Art additional capital
equipments. This will have better capacity generation.
The Company has also
decided to appoint Regional level dealers and distributors to market Thermosol
Brand dominance in required target audience in the current financial year.
PERFORMANCE
During the year, the net
profit of the company after deducting Interest, Depreciation tax has increased
by 57.37%, Rs. 0.714 Million as against of Rs. 0.454 Million in the previous year.
The gross tumover increased by Rs.32.83%, Rs. 186.600 Million as aganist Rs.
140.500 Million in the previous year. Your company is expecting betters results
in the coming years for which your Directors are taking all necessary mezrsures
to achieve the same.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
President of India |
0.215 |
0.215 |
|
Letters of credit Discounted/ Issued |
7.214 |
4.176 |
|
Total |
7.429 |
4.391 |
FIXED ASSETS
Tangible Assets
· Free Hold Land
· Buidings
· Plant and Equipments
· Office Equipments
· Computers
· Vehicles Others
· Furniture and Fixtures
Intangible Assets
· Software
· Building Under Construction
· Plant and machinery-WIP
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. 63.51 |
|
|
1 |
Rs. 100.94 |
|
Euro |
1 |
Rs. 72.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.