MIRA INFORM REPORT
|
Report No. : |
314121 |
|
Report Date : |
26.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHENDRA STRIPS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Plot No. 3 (Part) and Plot No. 4 (Part), Urla Industrial Area, Village
Sarora, Raipur – 492001, Chhattisgarh |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.04.1996 |
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Com. Reg. No.: |
010682 |
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Capital
Investment / Paid-up Capital : |
Rs. 21.310 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27601CT1996PTC010682 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AABCM5823D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in trading and manufacturing activities of re-rolled products and MS Ingot and steel. |
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|
No. of Employees
: |
32 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. There seems some dip in the turnover and profit of the company during
FY2014 however, networth of the company is satisfactory. General financial
position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal 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.
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. Satish |
|
Designation : |
Accountant |
|
Contact No.: |
91-771-4065607 |
|
Date : |
24.03.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 3 (Part) and Plot No. 4 (Part), Urla Industrial Area, Village
Sarora, Raipur – 492001, Chhattisgarh, India |
|
Tel. No.: |
91-771-4065600
/ 4065800 / 4065607 |
|
Fax No.: |
91-771-4065666 |
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E-Mail : |
|
|
Location : |
Leased |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Manoj Kumar Agrawal |
|
Designation : |
Director |
|
Address : |
300, Samta Colony, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
14.04.1972 |
|
Date of Appointment : |
02.04.1996 |
|
DIN No.: |
00177804 |
|
|
|
|
Name : |
Deepesh Agrawal |
|
Designation : |
Managing Director |
|
Address : |
300, Samta Colony, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
09.12.1979 |
|
Date of Appointment : |
01.09.2014 |
|
DIN No.: |
00177761 |
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|
|
|
Name : |
Devendra Pugaliya |
|
Designation : |
Director |
|
Address : |
Near Raipur Medical, Sadar Bazar, Raipur – 492001,
Chhattisgarh, India |
|
Date of Birth/Age : |
05.07.1963 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
03274070 |
KEY EXECUTIVES
|
Name : |
Mr. Satish |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ishwar
Banarsidas Agrawal |
|
80000 |
|
Manoj
Ishwar Prasad Agrawal |
|
229520 |
|
Mahendra Ishwar
Prasad Agrawal |
|
113020 |
|
Deepesh
Ishwar Prasad Agrawal |
|
84500 |
|
Bimla
Bai Ishwar Prasad Agrawal |
|
605000 |
|
Hemlata
Manoj Kumar Agrawal |
|
247000 |
|
Surbhi
Mahendra Agrawal |
|
32500 |
|
Shweta
Deepesh Agrawal |
|
70000 |
|
Ishwar
Prasad Agrawal HUF, India |
|
60000 |
|
Manoj
Kumar Agrawal HUF, India |
|
100000 |
|
Mahendra
Agrawal HUF, India |
|
100000 |
|
Deepesh
Agrawal HUF, India |
|
47500 |
|
Limelight
Vintrade Private Limited, India |
|
160000 |
|
Meena
Ram Kumar Agrawal |
|
2000 |
|
Lalit
Kunj Lal Agrawal |
|
100000 |
|
Animesh
Manoj Kumar Agrawal |
|
100000 |
|
|
|
|
|
Total |
|
2131040 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
7.51 |
|
Directors or relatives of Directors |
92.49 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in trading and manufacturing activities of re-rolled products and MS Ingot and steel. |
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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 : |
Steel |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS ; NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
32 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Agrawal and Pansari Chartered Accountants |
|
Address : |
245 , 2nd Floor,Rishabh Complex, Raipur, Chhattisgarh, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFA4245R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates: |
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Relative of the Key
Management Personnel : |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,131,040 |
Equity Shares |
Rs.10/- each |
Rs.21.310
Million |
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|
|
|
|
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 |
21.310 |
21.310 |
21.310 |
|
(b) Reserves & Surplus |
54.305 |
50.921 |
46.738 |
|
(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) |
75.615 |
72.231 |
68.048 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
48.411 |
42.054 |
58.251 |
|
(b) Deferred tax liabilities
(Net) |
9.562 |
9.327 |
9.577 |
|
(c) Other long term
liabilities |
0.210 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
58.183 |
51.381 |
67.828 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
109.109 |
123.602 |
99.661 |
|
(b) Trade payables |
2.453 |
12.727 |
30.616 |
|
(c) Other current liabilities |
4.742 |
9.497 |
15.363 |
|
(d) Short-term provisions |
14.506 |
12.168 |
8.163 |
|
Total
Current Liabilities (4) |
130.810 |
157.994 |
153.803 |
|
|
|
|
|
|
TOTAL |
264.608 |
281.606 |
289.679 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
67.724 |
68.944 |
73.140 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.805 |
2.344 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.433 |
6.433 |
6.433 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.152 |
12.011 |
11.022 |
|
(e) Other Non-current assets |
7.560 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
92.674 |
89.732 |
90.595 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
104.494 |
92.843 |
104.516 |
|
(c) Trade receivables |
51.118 |
81.037 |
72.655 |
|
(d) Cash and cash equivalents |
4.910 |
5.047 |
2.437 |
|
(e) Short-term loans and
advances |
2.923 |
7.740 |
19.410 |
|
(f) Other current assets |
8.489 |
5.207 |
0.066 |
|
Total
Current Assets |
171.934 |
191.874 |
199.084 |
|
|
|
|
|
|
TOTAL |
264.608 |
281.606 |
289.679 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
999.477 |
1287.563 |
NA |
|
|
Other Income |
1.254 |
1.514 |
NA |
|
|
TOTAL (A) |
1000.731 |
1289.077 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Manufacturing Expenses |
868.616 |
1089.659 |
NA |
|
|
Employees benefits
expense |
13.669 |
15.182 |
NA |
|
|
Other expenses |
89.830 |
149.485 |
NA |
|
|
TOTAL (B) |
972.115 |
1254.326 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
28.616 |
34.751 |
NA |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
17.011 |
21.622 |
NA |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.605 |
13.129 |
12.200 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.129 |
8.270 |
5.669 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
4.476 |
4.859 |
6.531 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1.093 |
0.676 |
2.386 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
3.383 |
4.183 |
4.145 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.59 |
1.96 |
2.10 |
Expected Sales ( 2014-2015 ) : Rs.800.000 Million
The above information has been parted by Mr. Satish.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.34 |
0.32 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.86 |
2.70 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.74 |
1.78 |
2.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.07 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.08 |
2.29 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.21 |
1.29 |
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 |
21.310 |
21.310 |
21.310 |
|
Reserves & Surplus |
46.738 |
50.921 |
54.305 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
68.048 |
72.231 |
75.615 |
|
|
|
|
|
|
long-term borrowings |
58.251 |
42.054 |
48.411 |
|
Short term borrowings |
99.661 |
123.602 |
109.109 |
|
Total borrowings |
157.912 |
165.656 |
157.520 |
|
Debt/Equity ratio |
2.321 |
2.293 |
2.083 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
|
1287.563 |
999.477 |
|
|
|
(22.375) |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
|
1287.563 |
999.477 |
|
Profit |
|
4.183 |
3.383 |
|
|
|
0.32% |
0.34% |
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
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 |
No |
|
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 LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans repayable on demand from others |
48.411 |
42.054 |
|
|
|
|
|
Total |
48.411 |
42.054 |
CONTINGENT LIABILITY
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Claims not acknowledged by the Company: |
|
|
|
Sales Tax (for the F.Y. 2003-04) |
0.569 |
0.569 |
|
|
|
|
|
Total |
0.569 |
0.569 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10076447 |
08/05/2012 * |
9,500,000.00 |
ORIENTAL BANK OF COMMERCE |
RAJ TOWER , TATYAPARA CHOWK, G.E.ROAD, RAIPUR, CH |
B39403951 |
|
2 |
10003334 |
12/04/2006 * |
17,900,000.00 |
ORIENTAL BANK OF COMMERCE |
RAJBANDHA MAIDAN, RAIPUR, CHHATTISGARH - 492001, I |
A00860528 |
|
3 |
90203674 |
12/09/2012 * |
129,000,000.00 |
ORIENTAL BANK OF COMMERCE |
RAJ TOWER , TATYAPARA CHOWK, G.E.ROAD, RAIPUR, CH |
B58817727 |
* Date of charge modification
FINANCIAL PERFORMANCE
The total income of the Company from its business operations in the current year was Rs. 1000.731 Million as compared to Rs. 1289.077 Million of the Previous Year. The Profit before Interest, Depreciation and Tax for the current year was Rs. 28.616 Million as compared to Rs. 34.751 Million of the previous financial year. The profit after tax for the current year was Rs. 3.383 Million as compared to Rs. 4.183 Million in the previous year. The Board of Directors are of the view that the company has performed well despite the sluggish market conditions and managed to maintain its sales and operations in a profitable manner and are satisfied with the financials of the company. The management is optimistic about the future of the Company.
CORPORATE INFORMATION
The company was incorporated in 1996 in India under the provisions of The Companies Act, 1956. The company is engaged in trading and manufacturing activities of re-rolled products and MS Ingot.
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Vehicles
- Office equipment
- Computer equipment
- Leasehold improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
|
1 |
Rs.92.65 |
|
Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.