MIRA INFORM REPORT
|
Report No. : |
310949 |
|
Report Date : |
09.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
HIGH STREET FASHIONS LIMITED (w.e.f. 13.12.2013) |
|
|
|
|
Formerly Known
As : |
HIGH STREET FASHIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B – 17, Bais Godam Industrial Area, Jaipur - 302006, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.06.2000 |
|
|
|
|
Com. Reg. No.: |
17-016452 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 112.448 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74994RJ2000PLC016452 |
|
|
|
|
IEC No.: |
1300007770 |
|
|
|
|
TIN No.: |
08852105858 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRH02172C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH8656A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Socks. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject is an established company having moderate track record. Profitability of the company seems to be low during 2014. The rating takes into considerations high customer concentration and
working capital intensive nature of operations. However, trade relations are fair. Business is active. Payment terms
are reported to be slow. The company can be considered for business dealings with great
cautions. |
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
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based bank facilities: B- |
|
Rating Explanation |
Have high risk of default. |
|
Date |
February 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
LOCATIONS
|
Registered Office : |
B – 17, Bais Godam Industrial Area, Jaipur-302006, |
|
Tel. No.: |
91-141-2214065 / 2211658 / 2214074 |
|
Fax No.: |
91-141-2212984 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Head Office / Factory 1 : |
B – 17and B – 18, 22 Godown Industrial Estate, Jaipur – 302 006, |
|
|
|
|
Factory 2 : |
B- 3 and B – 4, 22 Godown Industrial Estate, Jaipur – 302 006, |
|
Tel. No.: |
91-141- 2214074, 2211658, 4025431 |
|
Fax No.: |
91-141-2212984 |
|
E-Mail : |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Raj Kumar Sethia |
|
Designation : |
Director |
|
Address : |
B-23, Ram Marg, Shyam Nagar, Jaipur - 302019, Rajasthan, India |
|
Date of Birth/Age : |
03.10.1955 |
|
PAN No. : |
AMAPS5392R |
|
Date of Appointment : |
15.12.2011 |
|
DIN No.: |
00050948 |
|
|
|
|
Name : |
Mrs. Neeta Sethia |
|
Designation : |
Director |
|
Address : |
B-23, Ram Marg, Shyam Nagar, Jaipur - 302019, Rajasthan, India |
|
Date of Birth/Age : |
14.05.1960 |
|
PAN No. : |
ATWPS3614D |
|
Date of Appointment : |
01.04.2001 |
|
DIN No.: |
00051088 |
|
|
|
|
Name : |
Mrs. Padmini Palod |
|
Designation : |
Director |
|
Address : |
258, Vinobha Vihar, Malviya Nagar, Jaipur - 302017, Rajasthan, India |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
01.11.2002 |
|
DIN No.: |
00059564 |
|
PAN No.: |
ADIPJ5435H |
|
|
|
|
Name : |
Mr. Vimal Kumar Kothari |
|
Designation : |
Director |
|
Address : |
130A, Evarest Bihar, Ward No. 23, Jaipur – 302015, Rajasthan, India |
|
Date of Birth/Age : |
29.09.1966 |
|
Date of Appointment : |
06.01.2014 |
|
DIN No.: |
06804540 |
|
|
|
|
Name : |
Mr. Charan Singh |
|
Designation : |
Director |
|
Address : |
E-31, Mazdoor Nagar, Ajmer Road, Jaipur – 302006, Rajasthan, India |
|
Date of Birth/Age : |
02.10.1981 |
|
Date of Appointment : |
06.01.2014 |
|
DIN No.: |
06804838 |
|
|
|
|
Name : |
Mr. Pawan Singh |
|
Designation : |
Director |
|
Address : |
E-35, Mazdoor Nagar, Ajmer Road, Jaipur – 302006, Rajasthan, India |
|
Date of Birth/Age : |
03.04.1977 |
|
Date of Appointment : |
06.01.2014 |
|
DIN No.: |
06805403 |
KEY EXECUTIVES
|
Name : |
Shefali Singhal |
|
Designation : |
Secretary |
|
Address : |
19 Bhaskar Enclave, Dholal Village, Near Patrakar Colony Mansarovar,
Jaipur -302020, Rajasthan, India |
|
Date of Birth/Age : |
02.12.1990 |
|
Date of Appointment : |
18.03.2014 |
|
PAN No.: |
FOTPS1314P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Divya Sethia |
|
627300 |
|
Neeta Sethia |
|
6011000 |
|
Aishwarya Sethia |
|
165300 |
|
Cabitech India Private Limited, India |
|
993400 |
|
The Techmech India, India |
|
25000 |
|
Alanknt Vyapar Private Limited, India |
|
225 |
|
Giriraj Commercial Private Limited, India |
|
150 |
|
Raccop Gniya |
|
150 |
|
Anglaa Trading Private Limited, India |
|
5225 |
|
Alpha Chemi Trade Private Limited, India |
|
225 |
|
Empress Associates Private Limited, India |
|
200 |
|
D S Consultancy and Holding Private Limited, India |
|
51 |
|
Seta Ram Investment Limited, India |
|
1 |
|
Swam Puspa Vaniya Private Limited, India |
|
1 |
|
Dhan Kuber Infra Private Limited, India |
|
75 |
|
Raj Kumar Sethia |
|
486100 |
|
Dulichand Jethmal Trading Private Limited, India |
|
788800 |
|
Neeta Resorts and Spa Private Limited, India |
|
595000 |
|
Laxman Rai |
|
470000 |
|
Golden Giri Resorts Private Limited, India |
|
297 |
|
Hemant Palod |
|
83400 |
|
Rehana Sheik |
|
6800 |
|
Piyush Gupta |
|
100 |
|
Kamal Kishore Ghiya |
|
14000 |
|
Bhagwan Singh |
|
20000 |
|
Ashini Texfab Private Limited, India |
|
13000 |
|
Techmech Steel Private Limited, India |
|
349000 |
|
Techmech Electricals Private Limited, India |
|
540000 |
|
Jethmal Shreechand Trading Private Limited, India |
|
50000 |
|
TOTAL |
|
11244800 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
31.73 |
|
Directors or relatives of Directors |
67.74 |
|
Other top fifty shareholders |
0.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Socks. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Rm Me, Industrial Estate , 22 Godam, Jaipur - 302006, Rajasthan, India |
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Facilities : |
|
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
A.Natani and Company Chartered Accountants |
|
Address : |
Room No.7, IIND Floor, Samod Tower, Dudu Bagh, S .C. Road, Jaipur-302003, Rajasthan, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAPFA4438J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Other Related party : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11245000 |
Equity Shares |
Rs.10/- each |
Rs. 112.450 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11244800 |
Equity Shares |
Rs.10/- each |
Rs. 112.448
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 |
112.448 |
102.255 |
102.255 |
|
(b) Reserves & Surplus |
98.600 |
91.157 |
92.742 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
20.386 |
0.002 |
|
Total
Shareholders’ Funds (1) + (2) |
211.048 |
213.798 |
194.999 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
61.048 |
69.011 |
106.924 |
|
(b) Deferred tax liabilities
(Net) |
2.314 |
2.153 |
2.312 |
|
(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) |
63.362 |
71.164 |
109.236 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
39.487 |
39.953 |
35.090 |
|
(b) Trade payables |
7.944 |
5.858 |
18.917 |
|
(c) Other current liabilities |
14.832 |
9.533 |
10.253 |
|
(d) Short-term provisions |
0.181 |
1.400 |
1.950 |
|
Total
Current Liabilities (4) |
62.444 |
56.744 |
66.210 |
|
|
|
|
|
|
TOTAL |
336.854 |
341.706 |
370.445 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
172.754 |
158.638 |
162.909 |
|
(ii) Intangible Assets |
0.083 |
0.103 |
0.098 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
5.006 |
0.003 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.181 |
1.138 |
1.112 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
174.018 |
164.885 |
164.122 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
66.603 |
57.459 |
41.916 |
|
(c) Trade receivables |
13.772 |
10.632 |
36.839 |
|
(d) Cash and cash equivalents |
3.253 |
11.994 |
2.889 |
|
(e) Short-term loans and
advances |
79.208 |
96.722 |
124.650 |
|
(f) Other current assets |
0.000 |
0.014 |
0.029 |
|
Total
Current Assets |
162.836 |
176.821 |
206.323 |
|
|
|
|
|
|
TOTAL |
336.854 |
341.706 |
370.445 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
87.477 |
86.725 |
122.149 |
|
|
Other Income |
2.386 |
1.399 |
40.440 |
|
|
TOTAL
(A) |
89.863 |
88.124 |
162.589 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
36.691 |
35.663 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
0.697 |
(6.194) |
30.458 |
|
|
Employees benefits expense |
7.095 |
7.833 |
|
|
|
Other expenses |
15.189 |
21.780 |
|
|
|
TOTAL
(B) |
59.672 |
59.082 |
30.458 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
30.191 |
29.042 |
32.131 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.132 |
12.476 |
13.524 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.059 |
16.566 |
18.607 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
14.112 |
13.390 |
12.782 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
0.947 |
3.176 |
5.825 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.571 |
1.215 |
2.035 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
0.376 |
1.961 |
3.790 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.03 |
0.19 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.43 |
2.26 |
3.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
34.51 |
33.49 |
26.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.28 |
0.94 |
1.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.01 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.48 |
0.51 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.61 |
3.12 |
3.12 |
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 |
102.255 |
102.255 |
112.448 |
|
Reserves & Surplus |
92.742 |
91.157 |
98.600 |
|
Share Application money pending allotment |
0.002 |
20.386 |
0.000 |
|
Net
worth |
194.999 |
213.798 |
211.048 |
|
|
|
|
|
|
long-term borrowings |
106.924 |
69.011 |
61.048 |
|
Short term borrowings |
35.090 |
39.953 |
39.487 |
|
Total
borrowings |
142.014 |
108.964 |
100.535 |
|
Debt/Equity
ratio |
0.728 |
0.510 |
0.476 |
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 |
122.149 |
86.725 |
87.477 |
|
|
|
(29.001) |
0.867 |
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 |
122.149 |
86.725 |
87.477 |
|
Profit |
3.790 |
1.961 |
0.376 |
|
|
3.10% |
2.26% |
0.43% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
COMPANY OVERVIEW
The company was incorporated as on 01.06.2000 and started business of mfg. of Socks. The company has very good customer base like Reebok India Limited., Adidas India Private Limited, Bata, Eminence, Jovi and other foreign buyers. The company had earlier decided to diversifying its business in setting up steel plant but In view of the present scenario ,the company has decided to concentrate on its existing business socks business and grounded the idea of diversifing its business in the process of setting up a Rolling Mill resulting hived off its division Techmech Steel. Very soon the company is launching its own Brand.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances, others |
17.317 |
16.792 |
|
Short-term
borrowings |
|
|
|
Commercial paper |
0.359 |
0.123 |
|
Total |
17.676 |
16.915 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10378943 |
27/05/2013 * |
45,000,000.00 |
STATE BANK OF INDIA |
RM ME, INDUSTRIAL
ESTATE , 22 GODAM, JAIPUR, RAJA |
B77938777 |
|
2 |
10248753 |
19/11/2010 * |
16,500,000.00 |
STATE BANK OF INDIA |
R M (M E), JAIPUR
HUB, SANGANERI GATE, JAIPUR, RA |
A99903387 |
|
3 |
10248754 |
19/11/2010 * |
23,000,000.00 |
STATE BANK OF INDIA |
R M (M E), AIPUR
HUB, SANGANERI GATE, JAIPUR, RAJ |
A99903544 |
|
4 |
10248452 |
07/05/2014 * |
60,500,000.00 |
STATE BANK OF INDIA |
JAIPUR SOUTH, 22
GODOWN INDUSTRIAL AREA, JAIPUR, |
C04628939 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other 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,
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.62.20 |
|
|
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.