MIRA
INFORM REPORT
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Report No. : |
311849 |
|
Report Date : |
12.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIMOND FIBERTECH LIMITED (w.e.f. 24.01.2007) |
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|
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Formerly Known
As : |
SIMOND CERAWOOL LIMITED |
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Registered
Office : |
Plot No. 2643-2644, Metoda GIDC, Lodhika Industrial,
Estate, Kranti Gate, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.06.2005 |
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Com. Reg. No.: |
01-046172 |
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Capital
Investment / Paid-up Capital : |
Rs.60.000 Million |
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CIN No.: [Company Identification
No.] |
U24304GJ2005PLC046172 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAJCS0476N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of ceramic fiber products, cerawool blanket products. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 having satisfactory track record. A reserves of the company is low. However, the rating takes into
consideration company’s improved operational risk profile marked by sound
operational performance and fair profitability margins of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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. Anupa Palan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2827-287906 |
|
Date : |
11.03.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 2643-2644, Metoda GIDC, Lodhika Industrial,
Estate, Kranti Gate, Main Road No 13, Metoda – 360035, Gujarat |
|
Tel. No.: |
91-2827-287906 / 07 |
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Fax No.: |
91-2827-287907 / 287494 |
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E-Mail : |
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Website : |
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Area : |
11000 Sq. Ft |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Chhaganbhai Mohanbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
Amrut Nagar Society, Street No. 2, Corner, Plot No.8, Behind SNK
School University Road, Rajkot – 360005, Gujarat, India |
|
Date of Birth/Age: |
10.11.1960 |
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Qualification: |
B.Com. |
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Date of Appointment : |
09.07.2012 |
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DIN No.: |
00670235 |
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|
|
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Name : |
Mr. Vinodbhai Thakershi Ramani |
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Designation : |
Director |
|
Address : |
Shyam 2, Madhuram Park, Street No. 2, Near Anand, Nagar, Rajkot –
36002, Gujarat, India |
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Date of Birth/Age: |
23.11.1967 |
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Qualification: |
B.Com. |
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Date of Appointment : |
20.12.2005 |
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DIN No.: |
00438365 |
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Name : |
Mr. Daulatrai Bhagwanjibhai Pipalia |
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Designation : |
Director |
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Address : |
Mehak Geeta Nagar Main Road, Behind Swami Narayan Gurukul, Dhebar Road,
Rajikot – 360005, Gujarat, India |
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Date of Birth/Age: |
25.04.1960 |
|
Qualification: |
M.Sc., Phd. |
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Date of Appointment : |
19.08.2009 |
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DIN No.: |
00453879 |
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Name : |
Mr. Hemantbhai Shamjibhai Bhut |
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Designation : |
Director |
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Address : |
Khodiya Krupa, 2, Nandi Park, Near Jyoti Park, Kalawad Road, Rajkot –
360005, Gujarat, India |
|
Date of Birth/Age: |
19.03.1968 |
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Qualification: |
S.S.C. |
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Date of Appointment : |
20.12.2005 |
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DIN No.: |
00670282 |
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|
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Name : |
Mr. Kantilal Chhaganbhai Chovatia |
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Designation : |
Director |
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Address : |
3, Shivbhumi, Astron Society Main Road, Behind Rudraksh Apartment,
Opposite Pankutir, Rajkot – 360001, Gujarat, India |
|
Date of Birth/Age: |
05.10.1967 |
|
Qualification: |
B.Com |
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Date of Appointment : |
01.05.2013 |
|
DIN No.: |
00788441 |
KEY EXECUTIVES
|
Name : |
Ms. Anupa Palan |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Daulatrai Bhagwanjibhai Pipalia |
|
725600 |
|
Chhaganbhai Mohanbhai Patel |
|
1650000 |
|
Hemantbhai Shamjibhai Bhut |
|
300000 |
|
Vinodbhai Thakershi Ramani |
|
50000 |
|
Kantilal Chhaganbhai Chovatia |
|
480000 |
|
Babubhai Bachubai Sorathiya |
|
213000 |
|
Bhartiben Vinodbhai Ramani |
|
94000 |
|
Jagrutiben Bharatibhai Ramani |
|
110000 |
|
Jamanbhai Keshvjibhai Patel |
|
75000 |
|
Karshanbhai Keshvjibhai Patel |
|
75000 |
|
Keshubhai Ramjibhai Bhut |
|
36000 |
|
Khodisdas Karmshibhai Dobariya |
|
36000 |
|
Majulaben Jadavhabhai Korat |
|
84000 |
|
Manjulaben Jadavbhai Bhut |
|
31500 |
|
Damjibhai Givindbhai Korat |
|
2900 |
|
Nareshibhai Keshavajibhai Kotadiya |
|
50000 |
|
Thakarshibhai Laxmanbhai Ramani |
|
102000 |
|
Rameshbhai Shamjibhai Kotadiya |
|
36000 |
|
Ramesh Keshvjibhai Sakhiya |
|
75000 |
|
Pravinbhai Damjibhai Sakhaiya |
|
36000 |
|
Savitaben Vallabhbhai Ramani |
|
84000 |
|
Virenbhai Jadavbhai Bhut |
|
12500 |
|
Jadavbhai Ramjibhai Bhut |
|
256000 |
|
Bharatbhai Thakarshibhai Ramani |
|
34000 |
|
Kaushik Damjibhai Korat |
|
57100 |
|
Babubhai Bachubai Sorathiya (HUF) |
|
63000 |
|
Alkaben Daulatrai Pipalia |
|
64400 |
|
Madhuben Vrajlal Patel |
|
50000 |
|
Narmadaben Chhaganbhai Patel |
|
780000 |
|
Premilaben Thakarshibhai Ramani |
|
42000 |
|
vallabhabhai Thakarshibhai Ramani |
|
60000 |
|
Sureshbhai Thakarshibhai Ramani |
|
60000 |
|
Shitalben Girishbhai Kotadiya |
|
25000 |
|
Apurvabhai Hareshkumar Mayani |
|
150000 |
|
Total |
|
6000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of ceramic fiber products, cerawool blanket products. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
·
Ceramic Fiber ·
Cerawool blanket products |
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Countries : |
·
Dubai ·
USA ·
Iran ·
South Africa |
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Imports : |
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Products : |
Raw Material |
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Countries : |
France |
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Terms : |
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Selling : |
Cash and Credit (30-60-90 Days) |
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Purchasing : |
Cash and Credit (30-60-90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
· Amar Furnace · Chem Ace Marketing · Disha Infotech · Gatral Enterprise · Global Trans Logistic · H.P. Products · Jalandhar Raipur Logistics · Jay Dasaram Electric and Motor Rewinding ·
Jay Kishan Transport Service |
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Customers : |
Wholesalers , Retailers, End Users and OEMs · Ashish Industries · Durga Ceramic · Dynamic Exim Corporation · Gold Side Production · Max Insulations · Nulite Wire and Insulation · Rangoon Marketing · Royal Exim ·
Trichy Refractories |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
Bank
of India, Kalawad Road Branch, "Titan", Near. G. T. Sheth School,
Kalawad Road, Rajkot - 360005, Gujarat, India
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Facilities : |
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Auditors : |
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Name : |
Busa and Associates Chartered Accountants |
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Address : |
212-A Land Mark, Astron Chowk, Sardar Nagar Main Road, Rajkot-360001, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAGFB4013J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
· Solar Technocast Private Limited CIN No.: U27100GJ2005PTC046521 · Swagat Travel Solutions Private Limited CIN No.: U63040GJ2007PTC049776 · Jaysun Technocoating Private Limited CIN No.: U36911GJ2001PTC039616 · Sol Gel Films Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
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 |
60.000 |
60.000 |
60.000 |
|
(b) Reserves & Surplus |
38.137 |
26.383 |
15.999 |
|
(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) |
98.137 |
86.383 |
75.999 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33.215 |
48.981 |
34.901 |
|
(b) Deferred tax liabilities
(Net) |
3.152 |
3.255 |
2.771 |
|
(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) |
36.367 |
52.236 |
37.672 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
25.912 |
38.607 |
9.186 |
|
(b) Trade payables |
17.754 |
6.605 |
6.647 |
|
(c) Other current liabilities |
3.081 |
4.257 |
13.712 |
|
(d) Short-term provisions |
8.925 |
5.410 |
7.441 |
|
Total
Current Liabilities (4) |
55.672 |
54.879 |
36.986 |
|
|
|
|
|
|
TOTAL |
190.176 |
193.498 |
150.657 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
91.303 |
82.200 |
66.514 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
13.448 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.000 |
2.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.500 |
0.500 |
5.393 |
|
(e) Other Non-current assets |
10.815 |
10.560 |
3.483 |
|
Total
Non-Current Assets |
104.618 |
108.708 |
75.390 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
35.932 |
44.949 |
28.555 |
|
(c) Trade receivables |
38.841 |
26.312 |
31.822 |
|
(d) Cash and cash equivalents |
2.222 |
2.512 |
4.020 |
|
(e) Short-term loans and
advances |
8.563 |
11.017 |
0.010 |
|
(f) Other current assets |
0.000 |
0.000 |
10.860 |
|
Total
Current Assets |
85.558 |
84.790 |
75.267 |
|
|
|
|
|
|
TOTAL |
190.176 |
193.498 |
150.657 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
185.026 |
136.674 |
145.140 |
|
|
Other Income |
4.447 |
8.545 |
0.477 |
|
|
TOTAL
(A) |
189.473 |
145.219 |
145.617 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
68.598 |
70.172 |
49.643 |
|
|
Changes in Inventories of finished goods, work-in-progress
and stock-in-trade |
7.168 |
(22.493) |
(1.008) |
|
|
Employee Benefits Expenses |
16.562 |
13.395 |
10.797 |
|
|
Other Expenses |
60.141 |
49.310 |
58.796 |
|
|
Exceptional Items |
(0.069) |
0.089 |
0.110 |
|
|
TOTAL
(B) |
152.400 |
110.473 |
118.338 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
37.073 |
34.746 |
27.279 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.320 |
9.612 |
3.429 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.753 |
25.134 |
23.850 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
11.145 |
9.545 |
6.483 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
17.608 |
15.589 |
17.367 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
5.854 |
5.206 |
5.348 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
11.754 |
10.383 |
12.019 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Direct Export Sales |
6.136 |
1.516 |
6.757 |
|
|
Opening Balance Received |
0.000 |
0.355 |
0.000 |
|
|
TOTAL
EARNINGS |
6.136 |
1.871 |
6.757 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF Value of Import |
2.325 |
1.479 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.96 |
1.73 |
2.00 |
Expected Sales (2014-2015) : Rs.250.000 Million
The above information has been parted by Ms. Anupa Palan
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.35 |
7.60 |
8.28 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
20.04 |
25.42 |
18.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.36 |
8.76 |
11.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.18 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60 |
1.01 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54 |
1.55 |
2.04 |
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 |
60.000 |
60.000 |
60.000 |
|
Reserves & Surplus |
15.999 |
26.383 |
38.137 |
|
Net
worth |
75.999 |
86.383 |
98.137 |
|
|
|
|
|
|
long-term borrowings |
34.901 |
48.981 |
33.215 |
|
Short term borrowings |
9.186 |
38.607 |
25.912 |
|
Total
borrowings |
44.087 |
87.588 |
59.127 |
|
Debt/Equity
ratio |
0.580 |
1.014 |
0.602 |
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 |
145.140 |
136.674 |
185.026 |
|
|
|
(5.833) |
35.378 |
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 |
145.140 |
136.674 |
185.026 |
|
Profit |
12.019 |
10.383 |
11.754 |
|
|
8.28% |
7.60% |
6.35% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
Rs.
In Million
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
NA |
7.347 |
0.300 |
|
Total |
NA |
7.347 |
0.300 |
|
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 |
Yes |
|
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 |
NOTE:
·
Registered office of the
company has been shifted from Ground Floor, Patel Agency Building Sankar Vijay,
Restaurant Street, Near Ellora, Print Sant Karbir Road, Rajkot – 360003,
Gujarat, India to the present address w.e.f.
28.07.2006
OPERATIONS
During the year, company has made Sales of Rs. 185.026 Million as against the last years sales of Rs. 136.674 Million and has earned profit before tax of Rs. 17.608 Million as against previous year’s profit of Rs. 15.590 Million. This indicates that company is making a very good progress. The directors foresee bright future of the company.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans repayable on demand |
2.500 |
10.561 |
|
Total |
2.500 |
10.561 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10489362 |
09/05/2014 |
81,000,000.00 |
THE CO-OPERATIVE BANK OF RAJKOT LTD. |
SAURASHTRA UNIVERSITY ROAD BRANCH, NEAR INDIRA CIRCLE, RAJKOT, GUJARAT - 360007, INDIA |
C03655578 |
|
2 |
10373337 |
22/10/2012 * |
80,000,000.00 |
THE CO-OPERATIVE BANK OF RAJKOT LIMITED |
"SAHKAR SARITA", PANCHNATH MAIN ROAD., RAJKOT, GUJARAT - 360001, INDIA |
B60805876 |
|
3 |
10487321 |
15/05/2006 |
40,000,000.00 |
BANK OF INDIA |
KALAWAD ROAD BRANCH, " TITAN", NR. G.T.SHETH SCHOOL, KALAWAD ROAD,, RAJKOT, GUJARAT - 360005, INDIA |
A02241420 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer 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.62.75 |
|
|
1 |
Rs.94.60 |
|
Euro |
1 |
Rs.67.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.