MIRA INFORM REPORT
|
Report No. : |
320515 |
|
Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAVINDRA HERAEUS PRIVATE LIMITED [w.e.f.21.11.2002] |
|
|
|
|
Formerly Known
As : |
RAVINDRA HERAEUS LIMITED RAVINDRA PLATINUM PRIVATE LIMITED |
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Registered
Office : |
A-196(A) F Road, M.I.A. Madri, Udaipur – 313003, Rajasthan |
|
Tel. No.: |
91-294-3044222 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
25.10.1988 |
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Com. Reg. No.: |
17-004669 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911RJ1988PTC004669 |
|
|
|
|
IEC No.: |
1388021633 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHR01991D |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACR9695R |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Platinum Group Metals for Fertilizer, Glass, Petrochemical, Pharmaceutical Industries and Research Institutes. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
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. Overall financial position of the company is decent. Performance
capability is good. However, trade relations are reported to be fair. Business is active.
Payments are reported to be usually 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 DECLINED BY
|
Name : |
Mr. Samweg Choksi |
|
Designation : |
Director |
|
Contact No.: |
91-249-2490029 |
|
Date : |
30.04.2015 |
LOCATIONS
|
Registered Office/ Factory : |
A-196(A) F Road, M.I.A. Madri, Udaipur – 313003, Rajasthan, India |
|
Tel. No.: |
91-294-3044222/ 2490029 |
|
Fax No.: |
91-294-2491825/ 2492177 |
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E-Mail : |
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|
Website : |
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Branch Offices : |
Located at: · Mumbai · Vadodara · Bangalore ·
Delhi |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Shailesh Ravindra Choksi |
|
Designation : |
Managing director |
|
Address : |
'Vaikuntam' Behind Shilpgram, Hawala Khurd, Udaipur - 313001, Rajasthan, India |
|
Date of Birth/Age : |
24.05.1960 |
|
Date of Appointment : |
25.10.1988 |
|
PAN No.: |
ABPPC0250J |
|
DIN No.: |
00359921 |
|
|
|
|
Name : |
Mr. Ravindra Sajanlal Choksi |
|
Designation : |
Director |
|
Address : |
1, Rani Road, Udaipur - 313001, Rajasthan, India |
|
Date of Birth/Age : |
12.09.1935 |
|
Date of Appointment : |
25.10.1988 |
|
PAN No.: |
ABPPC0251K |
|
DIN No.: |
00359736 |
|
|
|
|
Name : |
Mr. Kishor Choksi |
|
Designation : |
Director |
|
Address : |
1, Rani Road, Udaipur - 313001, Rajasthan, India |
|
Date of Birth/Age : |
10.09.1955 |
|
Date of Appointment : |
25.10.1988 |
|
PAN No.: |
ABPPC0252L |
|
DIN No.: |
00359805 |
|
|
|
|
Name : |
Gerald Josef Ritter |
|
Designation : |
Director |
|
Address : |
Gelnhausen, Am Langen Steg 39, AM Langen Steg, 39, Germany |
|
Date of Birth/Age : |
20.03.1961 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02931193 |
|
|
|
|
Name : |
Hans Joachim Dittloff |
|
Designation : |
Nominee director |
|
Address : |
Wetterstrinstr 9, Ebersberg – 85560, Germany |
|
Date of Birth/Age : |
06.01.1959 |
|
Date of Appointment : |
01.05.2011 |
|
DIN No.: |
03517651 |
|
|
|
|
Name : |
Hans Jurgen Wachter |
|
Designation : |
Nominee director |
|
Address : |
26A, Babenhauser Street, Rodermark, Germany |
|
Date of Birth/Age : |
23.03.1961 |
|
Date of Appointment : |
01.01.2014 |
|
DIN No.: |
06804239 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra Sajanlal Choksi |
|
10000 |
|
Kishor Choksi |
|
6000 |
|
Shailesh Ravindra Choksi |
|
6000 |
|
Kamla Choksi |
|
10000 |
|
Namrata Choksi |
|
4500 |
|
Samveg Choksi |
|
4500 |
|
Nandita Choksi |
|
4500 |
|
Radhey Choksi |
|
4500 |
|
W.C. Heraeus International GmbH, Germany |
|
50000 |
|
|
|
|
|
Total |
|
100000 |
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
50.00 |
|
Directors
or relatives of directors |
50.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Platinum Group Metals for Fertilizer, Glass, Petrochemical, Pharmaceutical Industries and Research Institutes. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Bank of Baroda Main Branch, Town Hall, Udaipur - 313001, Rajasthan, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B.L. Ajmera and Company Chartered Accountants |
|
Address : |
Maljichhogalal Trust Building, Mirza Ismail Road,
Jaipur, Rajasthan, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFB2982K |
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Enterprises under
significant influence : |
·
Heraeus Precious Metal GMBH ·
Heraeus Material Technology ·
Heraeus Metalhandlesgeses Schaft MbH ·
Heraeus Metal Germany ·
Heraeus Material Technology Shanghai ·
Choksi Heraeus Private Limited [U36911RJ1988PTC004625] ·
Heraeus KK |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 100- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
784.671 |
678.364 |
552.954 |
|
(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) |
794.671 |
688.364 |
562.954 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
12.726 |
12.422 |
11.231 |
|
(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) |
12.726 |
12.422 |
11.231 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
34.984 |
60.777 |
2.514 |
|
(c)
Other current liabilities |
7.519 |
9.045 |
7.050 |
|
(d)
Short-term provisions |
358.714 |
286.099 |
213.398 |
|
Total
Current Liabilities (4) |
401.217 |
355.921 |
222.962 |
|
|
|
|
|
|
TOTAL |
1208.614 |
1056.707 |
797.147 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
97.952 |
94.034 |
82.840 |
|
(ii)
Intangible Assets |
0.224 |
0.447 |
0.671 |
|
(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 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
1.675 |
1.245 |
0.714 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
99.851 |
95.726 |
84.225 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
224.005 |
143.259 |
191.516 |
|
(c)
Trade receivables |
220.025 |
218.794 |
132.778 |
|
(d)
Cash and cash equivalents |
303.135 |
318.496 |
183.201 |
|
(e)
Short-term loans and advances |
353.878 |
273.066 |
201.781 |
|
(f)
Other current assets |
7.720 |
7.366 |
3.646 |
|
Total
Current Assets |
1108.763 |
960.981 |
712.922 |
|
|
|
|
|
|
TOTAL |
1208.614 |
1056.707 |
797.147 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
2735.288 |
3310.198 |
2839.640 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
128.093 |
145.409 |
143.881 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sale (on FOB) |
38.048 |
68.442 |
114.398 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
1.998 |
7.129 |
0.944 |
|
|
|
Others |
0.157 |
0.970 |
1.148 |
|
|
TOTAL IMPORTS |
2.155 |
8.099 |
2.092 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1280.93 |
1454.09 |
1438.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.76 |
2.70 |
3.20 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
552.954 |
678.364 |
784.671 |
|
Net
worth |
562.954 |
688.364 |
794.671 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Total Income |
2839.640 |
3310.198 |
2735.288 |
|
|
|
16.571 |
-17.368 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
2839.640 |
3310.198 |
2735.288 |
|
Profit |
143.881 |
145.409 |
128.093 |
|
|
5.07% |
4.39% |
4.68% |
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 |
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 |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90072405 |
06/03/2014 * |
757,800,000.00 |
BANK OF BARODA |
MAIN BRANCH, TOWN
HALL, UDAIPUR, RAJASTHAN - 313001, INDIA |
C00255091 |
* Date of charge modification
FINANCIAL RESULTS
There is Net Profit after Tax of Rs 128.093 Million (Previous Year Rs.
145.409 Million) which is proposed to be carried forward. This is the Twenty
Third full year of commercial production. The Products of the company enjoy
good confidence and reputation in the market which is evident from repeated
enquiries/order from various prestigious buyers. A Sum of Rs.34.000 Million
(Previous Year Rs.45.000 Million) has been transferred to General Reserves.
OPERATIONS
This is the Twenty Third Year of commercial Production. During the year
under review your company has achieved a turnover of Rs. 2735.288 Million
(including other income) and Production of 35888.91 Kgs as compared to the
previous year’s turnover of Rs. 3310.198 Million and Production of 27390.64
Kgs. The products of the company continue to enjoy good confidence and
reputation in the market.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipments
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
· 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. 63.58 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Information Gathered
by : |
REK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.