MIRA INFORM REPORT
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Report No. : |
310703 |
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Report Date : |
05.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
RACCA INFOTECH PRIVATE LIMITED |
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Registered
Office : |
C Wing, Alco Market, Rajiv Nagar, Nashik – 422009, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
30.05.2000 |
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Com. Reg. No.: |
11-126848 |
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Capital Investment
/ Paid-up Capital : |
Rs. 2.490 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U72200MH2000PTC126848 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKR00969D |
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PAN No.: [Permanent Account No.] |
AAFFR1131E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Computer Peripherals. |
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported
to be usually correct. 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Ms. Shraddha Tupe |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-253-2395513 |
|
Date : |
04.03.2015 |
LOCATIONS
|
Registered Office : |
C Wing, Alco Market, Rajiv Nagar, Nashik – 422009, Maharashtra, India |
|
Tel. No.: |
91-253-2395513/ 2394513/ 3290806/ 3294394 |
|
Mobile No.: |
91-9373900081 (Mr. Adhar Racca) 91-9372795995 (Mr. Anand Racca) |
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Fax No.: |
91-253-2378513 |
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E-Mail : |
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Website : |
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Admin Office : |
D Wing, Alco Market, Rajiv Nagar, Nashik – 422009, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Adhar Kantilal Racca |
|
Designation : |
Managing director |
|
Address : |
C-Wing, Alco Market Rajiv Nagar, Nashik - 422009, Maharashtra, India |
|
Date of Appointment : |
30.06.2007 |
|
DIN No.: |
00212421 |
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|
|
|
Name : |
Mrs. Shilpa Adhar Racca |
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Designation : |
Director |
|
Address : |
C-Wing, Alco Market Rajiv Nagar, Nashik - 422009, Maharashtra, India |
|
Date of Appointment : |
30.06.2007 |
|
DIN No.: |
00212581 |
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|
|
|
Name : |
Mrs. Nirmala Kantilal Racca |
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Designation : |
Director |
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Address : |
Flat No. 1/A, Madhusmita Society, Rajiv Nagar, Nashik - 422009, Maharashtra, India |
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Date of Appointment : |
30.06.2007 |
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DIN No.: |
01002363 |
KEY EXECUTIVES
|
Name : |
Ms. Shraddha Tupe |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
NOT AVAILABLE
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals. |
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Brand Names : |
-- |
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Agencies Held : |
· IBM · Lenovo · EPSON · APC · Wipro · Netcore · TYCO |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
Cash and Credit [30 Days, 60 Days and 90 Days] |
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Purchasing : |
Cash and Credit [30 Days, 60 Days and 90 Days] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
· Atlas Copco Limited, Nashik · Advanced Enzyme Technologies Limited, Nashik · Samsung KTS |
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No. of Employees : |
35 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
B D Khairnar Chartered Accountant |
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Address : |
6, Madhumalti Apartment, Sarda Circle, Nashik – 422001, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AGDPK8254H |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,900 |
Equity Shares |
Rs. 100/- each |
Rs. 2.490 Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.490 |
2.490 |
2.490 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.237 |
9.572 |
6.706 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.727 |
12.062 |
9.196 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.690 |
4.441 |
4.697 |
|
|
2] Unsecured Loans |
3.005 |
1.421 |
1.750 |
|
|
TOTAL BORROWING |
3.695 |
5.862 |
6.447 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.422 |
17.924 |
15.643 |
|
|
|
|
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|
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APPLICATION OF
FUNDS |
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
4.560 |
4.513 |
4.841 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.654
|
9.080 |
|
|
|
Sundry Debtors |
55.010
|
56.310 |
|
|
|
Cash & Bank Balances |
6.344
|
0.100 |
|
|
|
Other Current Assets |
3.956
|
3.572 |
|
|
|
Loans & Advances |
0.000
|
0.000 |
|
|
Total
Current Assets |
72.964
|
69.062 |
51.456 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
54.237
|
51.977 |
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
|
|
|
Provisions |
3.865
|
3.674 |
|
|
Total
Current Liabilities |
58.102
|
55.651 |
40.654 |
|
|
Net Current Assets |
14.862
|
13.411 |
10.802 |
|
|
|
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.422 |
17.924 |
15.643 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
246.577 |
156.140 |
|
|
|
Other Income |
|
13.441 |
14.266 |
|
|
|
TOTAL |
|
260.018 |
170.406 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of sales |
|
230.553 |
145.123 |
|
|
|
Other Expenses |
|
23.255 |
20.268 |
|
|
|
TOTAL |
|
253.808 |
165.391 |
|
|
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
6.210 |
5.015 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.810 |
0.706 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
5.400 |
4.309 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
1.735 |
1.443 |
|
|
|
|
|
|
|
|
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PROFIT AFTER TAX
|
|
3.665 |
2.866 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
147.19 |
115.10 |
|
Expected Sales (2014-2015): Rs.3500.000 Millions
The above information has been parted by Ms. Shraddha Tupe (Senior
Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.49
|
1.84 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.97
|
5.86 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.36 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23
|
0.49 |
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.24 |
1.27 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2.490 |
2.490 |
2.490 |
|
Reserves & Surplus |
6.706 |
9.572 |
13.237 |
|
Net
worth |
9.196 |
12.062 |
15.727 |
|
|
|
|
|
|
Secured Loans |
4.697 |
4.441 |
0.690 |
|
Unsecured Loans |
1.750 |
1.421 |
3.005 |
|
Total
borrowings |
6.447 |
5.862 |
3.695 |
|
Debt/Equity ratio |
0.701 |
0.486 |
0.235 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
169.350 |
258.860 |
|
|
|
52.855 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
169.350 |
258.860 |
|
Profit |
2.866 |
3.665 |
|
|
1.69% |
1.42% |
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
No |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10129453 |
03/11/2008 |
5,000,000.00 |
BANK OF MAHARASHTRA |
AMBAD I E BRANCH, AMBAD, NASIK, MAHARASHTRA - 422010, INDIA |
A50511443 |
|
2 |
10129474 |
03/11/2008 |
5,000,000.00 |
BANK OF MAHARASHTRA |
AMBAD I E BRANCH, AMBAD, NASIK, MAHARASHTRA - 422010, INDIA |
A50510411 |
|
3 |
10114594 |
16/01/2008 |
1,500,000.00 |
RACCA INFOTECH PRIVATE LIMITED |
C-WING ALCO MARKET RAJIV NAGAR NASHIK, NASHIK, MAHARASHTRA - 422009, INDIA |
A32897720 |
|
4 |
90144432 |
29/03/2003 |
1,300,000.00 |
BANK OF MAHARASHTRA |
AMBAD INDUSTRIAL ESTATE BRANCH, NASHIK, MAHARASHTRA - 422010, INDIA |
- |
|
5 |
90149416 |
29/03/2003 |
1,700,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL ESTATE BRANCH, NASHIK, MAHARASHTRA - 422010, INDIA |
- |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
Akash Racca |
0.500 |
0.166 |
|
Manish Racca |
0.100 |
0.100 |
|
Nirmal Racca |
0.100 |
0.100 |
|
Sushila Racca |
0.000 |
0.300 |
|
Kantilal M. Racca |
0.545 |
0.545 |
|
Dharpan Racca |
0.150 |
0.000 |
|
Shilpa Racca |
0.210 |
0.210 |
|
S P Kulkarni |
1.200 |
0.000 |
|
Rupali Manish Racca |
0.200 |
0.000 |
|
|
|
|
|
Total |
3.005 |
1.421 |
FIXED ASSETS:
· Computer
· Vehicles
· Furniture
· Air Conditioner
· Office Equipments
· Other Equipments
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. 61.85 |
|
|
1 |
Rs. 94.96 |
|
Euro |
1 |
Rs. 69.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.