MIRA INFORM REPORT

 

 

Report No. :

310580

Report Date :

04.03.2015 

 

IDENTIFICATION DETAILS

 

Name :

BINDAL TECHNOPOLYMER PRIVATE LIMITED (w.e.f. 08.11.2010)

 

 

Formerly Known As :

BINDAL BATTERIES PRIVATE LIMITED

 

 

Registered Office :

21, Dr. Ambedkar Stadium, Delhi Gate, New Delhi – 110 002

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.12.1986

 

 

Com. Reg. No.:

55-026404

 

 

Capital Investment / Paid-up Capital :

Rs.3.348 million

 

 

CIN No.:

[Company Identification No.]

U74899DL1986PTC026404

 

 

IEC No.:

0593022416

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACB0153G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Battery Lids, Battery Containers, Plastic Containers, etc.

 

 

No. of Employees :

Approximately 80 (In Office: 20 and In Factory: 60)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (33)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Management has reported low profitability during the financial year 2013-14.

 

However, trade relations are fair. Business is active. Payments 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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

 

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 31-03-2014.

 

INFORMATION PARTED BY

 

Name :

Mr. Ajay Ticku

Designation :

Director-Marketing

Contact No.:

91-9891160402

Date :

03.03.2015

 

 

LOCATIONS

 

Registered Office :

21, Dr. Ambedkar Stadium, Delhi Gate, New Delhi – 110 002, India

Tel. No. :

91-11-23317480

Mobile No. :

91-9891160402 (Mr. Ajay Ticku)

Fax No. :

Not Available

E-Mail :

bindaloffice@gmail.com

Website :

http://bindalgroup.co.in

 

 

Corporate Office/ Operation Office/ Works :

D-22, Site-B, Surajpur Industrial Area, Greater Noida – 201 306,  Gautam Budh Nagar, Uttar Pradesh, India

Tel. No.:

91-120-2560267/2560268

Fax No.:

91-120-2560627

Location :

Owned

 

 

Marketing Office :

22. Dr. Ambedkar Stadium, Delhi Gate, New Delhi – 110 002, India

Tel. No. :

91-11-23317480/ 23312672

Fax No. :

91-11-23355302

E-Mail :

office@bindalgroup.com

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Mr. Kapil Gupta 

Designation :

Director

Address :

M-92, Delta-3, Greater Noida, District Gautam Budh Nagar, Uttar Pradesh, India

Date of Birth/Age :

24.07.1976

Qualification :

M.B.A.

Experience :

5 Years

Date of Appointment :

01.04.2009

DIN No. :

00550613

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27209DL1996PTC076142

BINDAL SMELTING PRIVATE LIMITED

Whole-time director

24/07/2006

24/07/2006

01/04/2009

Active

NO

2

U74899DL1986PTC026404

BINDAL TECHNOPOLYMER PRIVATE LIMITED

Director

01/04/2009

01/04/2009

-

Active

NO

3

U27205DL2009PTC191790

BINDAL MINERALS AND METALS PRIVATE LIMITED

Director

01/07/2009

01/07/2009

-

Active

NO

4

U31501DL2011PTC224998

TECHSYS EQUIPMENTS PRIVATE LIMITED

Director

13/09/2011

13/09/2011

-

Active

NO

5

U70109DL2012PTC234095

FUTURE GREEN ASSOCIATES PRIVATE LIMITED

Director

09/04/2012

09/04/2012

-

Active

NO

 

 

Name :

Mr. Vinod Kumar Gupta 

Designation :

Director

Address :

M-92, Delta-3, Greater Noida, District Gautam Budh Nagar, Uttar Pradesh, India

Date of Birth/Age :

21.03.1951

Qualification :

Graduate

Experience :

20 Years

Date of Appointment :

28.09.1994

DIN No. :

00164754

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1986PTC026404

BINDAL TECHNOPOLYMER PRIVATE LIMITED

Director

28/09/1994

28/09/1994

-

Active

NO

2

U27209DL1996PTC076142

BINDAL SMELTING PRIVATE LIMITED

Whole-time director

08/02/1996

08/02/1996

01/04/2009

Active

NO

3

U27205DL2009PTC191790

BINDAL MINERALS AND METALS PRIVATE LIMITED

Director

01/07/2009

01/07/2009

-

Active

NO

4

U72900DL2013FTC257090

ATHENA SOLUTIONS INDIA PRIVATE LIMITED

Director

30/08/2013

30/08/2013

-

Active

NO

 

 

Name :

Ms. Kusum Gupta 

Designation :

Director

Address :

M-92, Delta-3, Greater Noida, District Gautam Budh Nagar, Uttar Pradesh, India

Date of Birth/Age :

22.07.1953

Qualification :

Graduate

Experience :

16 Years

Date of Appointment :

01.06.1998

DIN No. :

00164677

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1986PTC026404

BINDAL TECHNOPOLYMER PRIVATE LIMITED

Director

01/06/1998

01/06/1998

-

Active

NO

2

U72900DL2013FTC257090

ATHENA SOLUTIONS INDIA PRIVATE LIMITED

Director

30/08/2013

30/08/2013

-

Active

NO

 

 

Name :

Ms. Shikha Gupta 

Designation :

Director

Address :

M-92, Delta-3, Greater Noida, District Gautam Budh Nagar, Uttar Pradesh, India

Date of Birth/Age :

27.08.1980

Qualification :

M.B.A.

Experience :

5 Years

Date of Appointment :

01.04.2009

DIN No. :

02834950

 

 

KEY EXECUTIVES

 

Name :

Mr. Ajay Ticku

Designation :

Director-Marketing

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

 

 

No. of Shares

Vinod Kumar Gupta

 

15202

Sunil Kumar Gupta

 

1682

Kusum Gupta

 

8870

Rekha Gupta

 

3225

Ashok Kumar Mittal

 

200

Prem Kumar Mittal

 

200

Veena Mittal

 

100

Poonam Rani

 

50

Ragini Mangla

 

10

Rajeev Agarwal

 

50

Raj Rani

 

10

R.C. Agarwal

 

10

Sajan Bansal

 

10

Sneh Goel

 

50

Usha Gupta

 

10

Veena Agarwal

 

10

Ravi Gupta

 

10

Poonam Gupta

 

10

Kapil Gupta

 

3770

Total

 

33479

 

AS ON 30.09.2013

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

91.00

Other top fifty shareholders

9.00

Total

100.00

 

 

                 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Battery Lids, Battery Containers, Plastic Containers, etc.

 

 

Products :
  • Batteries Containers and Lids
  • Batteries Accessories, etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • Batteries Containers and Lids
  • Batteries Accessories, etc.

Countries :
  • Nepal

 

 

Imports :

 

Products :
  • Machinery
  • Raw Materials

Countries :
  • Italy
  • Germany
  • China
  • UK, etc.

 

 

Terms :

 

Selling :

Cash and Credit (30 days)

 

 

Purchasing :

Credit (30 days) 

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

JBU Batteries, Nepal

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

ExxonMobil Asia Pacific Pte. Limited, Singapore

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

·         Luminous Teleinfa Private Limited

·         Luminous Power Private Limited

·         Exide India Limited

·         Eastman Auto Power Private Limited

·         Tudor India Limited

·         HBL Nife Power Systems Limited

·         NED Energy Limited

·         Kirloskar Batteries Limited

·         Lead Acid Battery Company Private Limited

·         Sahni Batteries

·         Action Batteries Private Limited

·         Non-Conventional Energy Development Agency (NEDA)/ Solar (Business Under Development)

·         Uttranchal Renewable Energy Development Agency (UREDA)/ Solar (Business Under Development).

 

 

No. of Employees :

Approximately 80 (In Office: 20 and In Factory: 60)

 

 

Bankers :

Banker Name

ING Vysya Bank Limited 

Branch Address

Corporate Banking New Branch

Person Name (With Designation)

Mr. Vikas Pandey

Contact Number

91-9910910755

Name of Account Holder

BINDAL TECHNOPOLYMER PRIVATE LIMITED

Account Number

0070100200035

Account Since (Date/Year of Account Opening)

2 Months

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Rs.50.000 millions

Account Operation

Very Good

Remarks (If any)

He informed before he was in Axis Bank but now moved to ING Vysya, so he carried this account along, company is very good.

 

·         IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India

·         ING Vysya Bank Limited, Opposite Priya Gold Factory, Main Dadri Road, Surajpur, Noida – 201 306, Uttar Pradesh, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Term Loan from Banks

[Secured by way of exclusive hypothecation charge over present and future movable fixed assets of the company (excluding vehicles) and also by way of equitable mortgage on immovable properties of the company and also personally guaranteed by all Directors of the company and repayable by way of EMI.]

0.000

2.146

HDFC Bank

(Secured by hypothecation of respective vehicles and repayable by way of EMI)

1.155

0.000

SHORT TERM BORROWINGS

 

 

Secured loan repayable on demand

 

 

From Bank

 

 

Axis Bank Limited

[Working Capital Limits secured by way of first hypothecation charge over entire current assets (both present and future) of the company also by way of equitable mortgage on immovable properties of the company and also personally guaranteed by all Directors of the company.

 

The company has not defaulted in repayment of loan and interest thereon during the year.]

29.664

47.125

Total

30.819

49.271

 

Banking Relations :

--

 

 

Auditors :

 

Name :

AVK and Associates

Chartered Accountants

Address :

KD-117, Pitampura, Near Kohat Enclave Metro Station, New Delhi – 110 088, India

Tel. No. :

91-11-27316243

Fax No. :

91-11-27316243

E-Mail :

avkcas@gmail.com

PAN No.:

AAAFV4591R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital : Rs.15.000 million

 

Issued, Subscribed & Paid-up Capital : Rs.3.348 million

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000

Equity Shares

Rs.100/- each

Rs.5.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

33479

Equity Shares

Rs.100/- each

Rs.3.348 million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1) Shareholders' Funds

 

 

 

(a) Share Capital

3.348

3.348

3.348

(b) Reserves & Surplus

35.148

33.430

28.705

(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)

38.496

36.778

32.053

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

33.790

14.155

14.331

(b) Deferred tax liabilities (Net)

6.263

5.887

5.343

(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)

40.053

20.042

19.674

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

29.664

48.010

50.847

(b) Trade payables

4.604

5.391

11.144

(c) Other current liabilities

7.501

7.345

9.459

(d) Short-term provisions

0.582

0.736

0.783

Total Current Liabilities (4)

42.351

61.482

72.233

 

 

 

 

TOTAL

120.900

118.302

123.960

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

51.325

46.511

45.766

(ii) Intangible Assets

0.016

0.041

0.078

(iii) Capital work-in-progress

0.253

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

3.059

1.186

1.050

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

54.653

47.738

46.894

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

31.364

30.715

24.001

(c) Trade receivables

31.972

35.720

47.720

(d) Cash and cash equivalents

0.939

1.665

1.731

(e) Short-term loans and advances

1.583

1.999

2.750

(f) Other current assets

0.389

0.465

0.864

Total Current Assets

66.247

70.564

77.066

 

 

 

 

TOTAL

120.900

118.302

123.960

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations (Net)

236.462

252.847

201.230

 

 

Other Income

0.229

1.133

0.767

 

 

TOTAL                                    

236.691

253.980

201.997

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

233.899

247.132

195.562

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2.792

6.848

6.435

 

 

 

 

 

Less

TAX                                                                 

0.958

1.849

2.438

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

1.834

4.999

3.997

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

NA

8.489

4.387

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

54.79

149.32

NA

 

Expected Sales (2014-2015): Rs.360.000 million

 

The above information has been parted by Mr. Ajay Ticku (Director-Marketing).

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

0.78

1.98

1.99

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.31

5.79

5.19

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.07

0.19

0.20

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.65

1.69

2.03

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.56

1.15

1.07

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Share Capital

3.348

3.348

3.348

Reserves & Surplus

28.705

33.430

35.148

Net worth

32.053

36.778

38.496

 

 

 

 

Long Term borrowings

14.331

14.155

33.790

Short Term borrowings

50.847

48.010

29.664

Total borrowings

65.178

62.165

63.454

Debt/Equity ratio

2.033

1.690

1.648

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Revenue from Operations (Net)

201.230

252.847

236.462

 

 

25.651

(6.480)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Revenue from Operations (Net)

201.230

252.847

236.462

Profit

3.997

4.999

1.834

 

1.99%

1.98%

0.78%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

-----

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

No

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

21]

Market information

-----

22]

Litigations that the firm / promoter involved in

-----

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

-----

26]

Buyer visit details

-----

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

(Repayable in 5 years)

 

 

Loan from related parties

32.343

11.717

Loan from shareholders

0.292

0.292

SHORT TERM BORROWINGS

 

 

Bills Discounted

 

 

Form Bank

 

 

HSBC Limited

0.000

0.885

Total

32.635

12.894

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10549935

29/12/2014

50,000,000.00

ING VYSYA BANK LIMITED

OPPOSITE PRIYA GOLD FACTORY, MAIN DADRI ROAD, SURAJPUR, NOIDA, UTTAR PRADESH - 201306, INDIA

C43984756

2

10184061

25/05/2011 *

6,000,000.00

AXIS BANK LIMITED

4/10, OPG HOUSE, ASAF ALI ROAD, NEW DELHI, DELHI - 110002, INDIA

B15807811

3

10000162

25/04/2013 *

62,438,000.00

AXIS BANK LIMITED

2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

B75522607

 

* Date of charge modification

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

Corporate Guarantee given to a Bank against Working Capital Loan to other companies

85.514

85.514

Sales Tax surety to others

0.065

0.065

Bills discounted not matured

1.186

0.000

Sales tax Demand not acknowledged as Debt

0.000

1.703

 

 

FIXED ASSETS

 

Tangible Assets

·         Land

·         Factory Building

·         Plant and Machinery

·         Dies and Moulds

·         Furniture and Fixtures

·         Vehicles

·         Computer

·         Office Equipments

Intangible Assets

·         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, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :  No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.84

UK Pound

1

Rs.95.14

Euro

1

Rs.69.25                                       

 

 

INFORMATION DETAILS

 

Information Gathered by :

HNA

 

 

Analysis Done by :

SUC

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

-- PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

4

--RESERVES

1~10

3

--CREDIT LINES

1~10

4

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

33

 

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

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.