MIRA INFORM REPORT
|
Report No. : |
329298 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CARTINI INDIA
LIMITED |
|
|
|
|
Formerly Known
As : |
GODREJ APPLIANCES LIMITED (W.E.F. 25.02.1993) GODREJ APPLIANCES PRIVATE LIMITED |
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Registered
Office : |
C/O. Kalyaniwalla and Mistry, 3rd Floor, Pro-1 Business Centre, Plot No.34/35, Senapati Bapat Road, Pune – 411016, Maharashtra |
|
Tel. No.: |
91-20-26330877 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.03.1992 |
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Com. Reg. No.: |
11-129236 |
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Capital
Investment / Paid-up Capital : |
Rs.0.612 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U99999PN1992PLC129236 |
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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.] |
AAACF1441P / AAACG0555D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Locks. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track. Financial as well as liquidity position appears to be sound marked by healthy
networth during the year under review. Sales turnover and profit of the company has increase compared to
previous year. Profitability of the company also seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. The company can be considered 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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED
Management non co-operative (91-20-26330877)
LOCATIONS
|
Registered Office : |
C/O. Kalyaniwalla and Mistry, 3rd Floor, Pro-1 Business Centre, Plot No.34/35, Senapati Bapat Road, Pune – 411016, Maharashtra, India |
|
Tel. No.: |
91-20-26330877 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Head Office : |
Plot No. 2, Mulshi Road, Pirangutr Mulshi, Pune – 411042, Maharashtra,
India |
|
Tel. No.: |
91-20-26330877/ 66748813/ 66748814/ 66748824 |
|
|
|
|
Factory : |
E-3, Madhaj Industrial Estate, Ponda - 403401, Goa, India |
|
Tel. No.: |
91-832-2392439 |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Bomi Dhanjishah Mistry |
|
Designation : |
Whole-Time Director |
|
Address : |
D1, Mantri Estate,, Salisbury Park Road, Pune - 411037, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1952 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
00065975 |
|
|
|
|
Name : |
Mr. Persis Jehangir Banaji |
|
Designation : |
Director |
|
Address : |
4, Babulnath Road, Mumbai - 400007, Maharashtra, India |
|
Date of Appointment : |
01.12.2014 |
|
DIN No.: |
00296864 |
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|
|
|
Name : |
Mr. James Kurian |
|
Designation : |
Whole-Time Director |
|
Address : |
575/1, Df-3-4, St Cruz, Goa, St Cruz - 403005, Goa, India |
|
Date of Birth/Age : |
04.11.1974 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
01536534 |
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|
|
|
Name : |
Mr. Byram Nawroji Doongaji |
|
Designation : |
Director |
|
Address : |
4th Floor, Mackawee Mansion, 7-Gunbow Street, Fort, Mumbai - 400001, Maharashtra, INDIA |
|
Date of Appointment : |
01.12.2014 |
|
DIN No.: |
06494917 |
MAJOR SHAREHOLDERS
As on 25.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Tanya Arvind Dubash joint with Godrej
Adi Parmeshwar |
4082 |
6.67 |
|
Pirojsha Adi Godrej joint with Godrej
Adi Parmeshwar |
4082 |
6.67 |
|
Godrej Adi Nisaba joint with Godrej
Adi Parmeshwar |
4083 |
6.67 |
|
Godrej Jamshyd Raika joint with Godrej Jamshyd Pheroza |
6119 |
10.00 |
|
Godrej Jamshyd Navroze joint with Godrej Jamshyd Pheroza |
6126 |
10.01 |
|
Godrej Nadir Sohrab joint with Godrej Nadir Rati |
187 |
0.31 |
|
Godrej Nadir Burjis joint with Godrej Nadir Rati |
5745 |
9.39 |
|
Naoroji Kaikhushru Rishad joint with Godrej Jamshyd Pheroza |
6673 |
10.90 |
|
Naoroji Kaikhushru Rishad |
5558 |
9.08 |
|
Crishna Vijay Freyan joint with Crishna Vijay Smita |
6119 |
10.00 |
|
Crishna Vijay Nyrika joint with Crishna Vijay Smita |
6119 |
10.00 |
|
Godrej Burjorji Nadir |
6300 |
10.30 |
|
Total |
61193 |
100.00 |
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Locks. |
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|
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Products : |
Locks |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Auditors : |
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|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
3rd Floor, Pro-1 Business Centre, Senapati Bapat Road, Pune – 411016,
Maharashtra, India |
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PAN No.: |
AAAFK7554R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Million |
|
25000000 |
Preference Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
Total |
|
Rs.2250.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61193 |
Equity Shares |
Rs.10/- each |
Rs.0.612
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
0.612 |
0.612 |
0.612 |
|
(b) Reserves &
Surplus |
593.879 |
413.370 |
336.507 |
|
(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) |
594.491 |
413.982 |
337.119 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
19.529 |
9.182 |
4.686 |
|
(c) Other long term
liabilities |
1.752 |
1.841 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
21.281 |
11.023 |
4.686 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
100.174 |
103.693 |
92.446 |
|
(c) Other current
liabilities |
30.339 |
33.457 |
21.244 |
|
(d) Short-term provisions |
5.616 |
0.799 |
1.130 |
|
Total Current Liabilities
(4) |
136.129 |
137.949 |
114.820 |
|
|
|
|
|
|
TOTAL |
751.901 |
562.954 |
456.625 |
|
|
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|
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II.
ASSETS |
|
|
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(1) Non-current assets |
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|
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(a) Fixed Assets |
|
|
|
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(i) Tangible assets |
270.946 |
175.442 |
101.235 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
43.878 |
11.487 |
13.603 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
266.192 |
213.255 |
214.840 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
16.048 |
9.624 |
6.327 |
|
Total Non-Current Assets |
597.064 |
409.808 |
336.005 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
105.008 |
104.923 |
55.573 |
|
(c) Trade receivables |
35.947 |
37.528 |
50.044 |
|
(d) Cash and cash
equivalents |
1.828 |
2.031 |
8.731 |
|
(e) Short-term loans and
advances |
12.047 |
8.632 |
6.184 |
|
(f) Other current assets |
0.007 |
0.032 |
0.088 |
|
Total Current Assets |
154.837 |
153.146 |
120.620 |
|
|
|
|
|
|
TOTAL |
751.901 |
562.954 |
456.625 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
997.639 |
852.288 |
781.251 |
|
|
Other Income |
77.227 |
13.998 |
14.613 |
|
|
TOTAL |
1074.866 |
866.286 |
795.864 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
575.637 |
557.224 |
504.139 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.499 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.009 |
(4.689) |
2.353 |
|
|
Employees benefits
expense |
71.916 |
47.110 |
44.261 |
|
|
Other expenses |
116.023 |
92.408 |
71.649 |
|
|
TOTAL |
764.585 |
692.552 |
622.402 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
|
310.281 |
173.734 |
173.462 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
310.281 |
173.734 |
173.462 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.129 |
6.418 |
3.855 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
298.152 |
167.316 |
169.607 |
|
|
|
|
|
|
|
Less |
TAX |
81.846 |
54.893 |
48.801 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
216.306 |
112.423 |
120.806 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
1.632 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
1.632 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
23.139 |
12.711 |
7.945 |
|
|
Finished Goods |
0.000 |
0.000 |
0.000 |
|
|
Components and Stores
parts |
2.650 |
0.000 |
0.557 |
|
|
Fixed Asset |
1.145 |
0.000 |
3.353 |
|
|
TOTAL IMPORTS |
26.934 |
12.711 |
11.855 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
3534.81 |
1837.19 |
1928.17 |
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 |
226.481 |
148.584 |
136.255 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
21.68 |
13.19 |
15.46 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
31.10 |
20.38 |
22.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
67.48 |
49.47 |
74.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50 |
0.40 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.11 |
1.05 |
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 |
0.612 |
0.612 |
0.612 |
|
Reserves & Surplus |
336.507 |
413.370 |
593.879 |
|
Net worth |
337.119 |
413.982 |
594.491 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
781.251 |
852.288 |
997.639 |
|
|
|
9.093 |
17.054 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
781.251 |
852.288 |
997.639 |
|
Profit |
120.806 |
112.423 |
216.306 |
|
|
15.46% |
13.19% |
21.68% |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from Plot No. 2,
Mulshi Road, Pirangut, Taluka Mulshi, District Pune – 411042, Maharashtra,
India to the present address w.e.f. 01.10.2010.
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
- Freehold Land
- Leasehold Land
- Buildings
- Plant and Machinery
- Vehicles
- Furniture and Fixture
- Office Equipment
- Computers
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.63.61 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PNM / SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
62 |
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.