MIRA INFORM REPORT
|
Report No. : |
320749 |
|
Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
WEST COAST FINE FOODS (INDIA) PRIVATE LIMITED [w.e.f. 13.04.2011] |
|
|
|
|
Formerly Known
As : |
ALLIANCE FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-1401 & 1402, Lotus Corporate Park, Gram Path, Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
|
Tel. No.: |
91-22-6780 6780 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-169210 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 33.350 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15122MH2007PTC169210 |
|
|
|
|
IEC Code |
0307063330 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA30023A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA2676P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor
of Frozen Food Products and Sea Food. |
|
|
|
|
No. of Employees
: |
150 (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 |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has achieved decent increase in its turnover during FY
2014. Company’s liquidity position seems to be fair. Rating also take into
account the strong track record of promoters in processed food distribution
business. Trade relations reported to be fair. Business is active. Payments are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- [Long Term Rating] |
|
Rating Explanation |
Inadequate
degree of safety and moderate credit risk. |
|
Date |
December 08, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 [Short Term Rating] |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
December 08, 2014 |
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. Kamlesh Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9833931187 |
|
Date : |
02.05.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
D-1401 & 1402, Lotus Corporate Park, Gram Path, Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-6780 6780/ 22822026/ 27566520 |
|
Mobile No.: |
91-9833931187 (Mr. Kamlesh Gupta) |
|
Fax No.: |
91-22-67806700 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
3rd Floor, Victor House, 142/C, N.M. Joshi Marg, Lower
Parel (West), Mumbai-400013, Maharashtra, India |
|
|
|
|
Branches : |
Located At:
|
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Kamlesh Nemichand Gupta |
|
Designation : |
Managing Director |
|
Address : |
59 Mount Unique, 8th Floor, 62/A, Peddar Road,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1968 |
|
Date of Appointment : |
27.03.2007 |
|
Din No.: |
01443672 |
|
|
|
|
Name : |
Mrs. Mridula Kamlesh Gupta |
|
Designation : |
Director |
|
Address : |
59 Mount Unique, 8th Floor, 62/A, Peddar Road,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1969 |
|
Date of Appointment : |
27.03.2007 |
|
Din No.: |
00203463 |
|
|
|
|
Name : |
Ms. Shweta Sachin Vakil |
|
Designation : |
Director |
|
Address : |
602-C, Wing Tulip Apartments, Asha Nagar, P.K. Road, Mulund (West), Mumbai-400080,
Maharashtra, India |
|
Date of Birth/Age : |
05.11.1976 |
|
Date of Appointment : |
02.04.2012 |
|
Din No.: |
03034613 |
|
|
|
|
Name : |
Mr. Rahul Chandrakant Kulkarni |
|
Designation : |
Director |
|
Address : |
802, Building 29, Seawoods Estate, Palm Beach Road, Nerul, New
Mumbai-400708, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1972 |
|
Date of Appointment : |
04.01.2010 |
|
Din No.: |
00158858 |
|
|
|
|
Name : |
Mr. Manish Janardan Shinde |
|
Designation : |
Director |
|
Address : |
3C/602, Eden Rose CHS Limited, Beverly Park, Opposite Cinemax, Mira
Road (East), Thane-401107, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1969 |
|
Date of Appointment : |
04.01.2010 |
|
Din No.: |
03048998 |
|
|
|
|
Name : |
Mr. Shivam Kamlesh Gupta |
|
Designation : |
Director |
|
Address : |
59 Mount Unique, 8th Floor, 62/A, Peddar Road,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1991 |
|
Date of Appointment : |
11.06.2012 |
|
Din No.: |
05152508 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Kamlesh Nemichand Gupta |
25000 |
0.75 |
|
Mridula Kamlesh Gupta |
25000 |
0.75 |
|
Arabian Seafoods Inc. |
460000 |
13.79 |
|
West Coast Water Base Private Limited, India |
2825000 |
84.71 |
|
Total |
3335000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20320749_MIRA%2004-May-2015_files/image014.gif)
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
84.71 |
|
Directors or relatives of Directors |
15.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor
of Frozen Food Products and Sea Food. |
|
|
|
|
Products : |
·
Frozen Food Products ·
Sea Food |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Malaysia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/6090 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/6090 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users and OEMs
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Chandabhoy and Jassoobhoy Chartered Accountants |
|
Address : |
208, Phoenix House, A Wing, 462, Senapati Bapat Marg, Lower Parel,
Mumbai – 400013, Maharashtra, India |
|
PAN No.: |
AAAFC5274C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
West Coast Water Base Private Limited (U15100MH1994PTC081960) |
|
|
|
|
Associates : |
·
West Coast Frozen Foods Private Limited
(U15120MH2005PTC152333) ·
Arabian Seafoods Inc. ·
Fortune Aqua ·
Kalash Aqua ·
Skyline Aqua Hatchery Private Limited ·
Dash Marine Products Private Limited ·
Shivsmaran Charitable Trust |
CAPITAL STRUCTURE
As on 31.03.2014
Authorized 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 |
|
|
|
|
|
|
3,335,000 |
Equity Shares |
Rs.10/- each |
Rs. 33.350 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 |
33.350 |
24.350 |
5.750 |
|
(b) Reserves & Surplus |
149.795 |
29.844 |
(38.668) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
90.000 |
141.000 |
|
Total Shareholders’
Funds (1) + (2) |
183.145 |
144.194 |
108.082 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.731 |
(8.740) |
0.980 |
|
(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) |
0.731 |
(8.740) |
0.980 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
243.482 |
151.381 |
78.805 |
|
(b) Trade
payables |
101.462 |
28.974 |
10.174 |
|
(c) Other
current liabilities |
42.870 |
18.354 |
11.779 |
|
(d) Short-term
provisions |
7.544 |
6.333 |
0.000 |
|
Total Current
Liabilities (4) |
395.358 |
205.042 |
100.758 |
|
|
|
|
|
|
TOTAL |
579.234 |
340.496 |
209.820 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
19.015 |
19.158 |
14.838 |
|
(ii)
Intangible Assets |
0.680 |
0.254 |
0.225 |
|
(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 |
0.192 |
1.409 |
1.800 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
19.887 |
20.821 |
16.863 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
104.707 |
52.265 |
27.708 |
|
(c) Trade
receivables |
253.140 |
220.143 |
121.180 |
|
(d) Cash
and cash equivalents |
90.316 |
20.213 |
10.117 |
|
(e)
Short-term loans and advances |
108.400 |
22.511 |
24.223 |
|
(f) Other current
assets |
2.784 |
4.543 |
9.729 |
|
Total
Current Assets |
559.347 |
319.675 |
192.957 |
|
|
|
|
|
|
TOTAL |
579.234 |
340.496 |
209.820 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1240.925 |
909.307 |
191.464 |
|
|
|
Other Income |
NA |
11.262 |
0.645 |
|
|
|
TOTAL |
NA |
920.569 |
192.109 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
|
737.036 |
144.046 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
NA |
(24.557) |
(11.818) |
|
|
|
Employee Benefits Expenses |
|
52.945 |
24.196 |
|
|
|
Other Expenses |
|
103.450 |
32.560 |
|
|
|
TOTAL |
NA |
868.874 |
188.984 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
51.695 |
3.125 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
NA |
15.651 |
0.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
65.598 |
36.044 |
3.103 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
3.810 |
3.143 |
2.356 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
61.788 |
32.901 |
0.747 |
|
|
|
|
|
|
|
|
|
|
TAX |
22.071 |
(3.220) |
(0.072) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
38.951 |
36.121 |
0.819 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
EXPENSES |
0.000 |
0.010 |
0.114 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT FOR
THE YEAR |
38.951 |
36.111 |
0.705 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.81 |
15.63 |
1.23 |
|
%20PRIVATE%20LIMITED%20-%20320749_MIRA%2004-May-2015_files/image003.gif){kind=small}
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1300.000 |
|
|
|
|
|
The above information has been parted by Mr. Kamlesh Gupta (Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.14 |
3.97 |
0.43 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
5.69 |
1.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.67 |
9.66 |
0.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.23 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.33 |
1.05 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.56 |
1.92 |
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 |
5.750 |
24.350 |
33.350 |
|
Reserves & Surplus |
(38.668) |
29.844 |
149.795 |
|
Share Application money pending allotment |
141.000 |
90.000 |
0.000 |
|
Net worth |
108.082 |
144.194 |
183.145 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
78.805 |
151.381 |
243.482 |
|
Total borrowings |
78.805 |
151.381 |
243.482 |
|
Debt/Equity ratio |
0.729 |
1.050 |
1.329 |
%20PRIVATE%20LIMITED%20-%20320749_MIRA%2004-May-2015_files/image016.gif)
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 |
191.464 |
909.307 |
1240.925 |
|
|
|
374.923 |
36.469 |
%20PRIVATE%20LIMITED%20-%20320749_MIRA%2004-May-2015_files/image018.gif)
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 |
191.464 |
909.307 |
1240.925 |
|
Profit |
0.819 |
36.121 |
38.951 |
|
|
0.43% |
3.97% |
3.14% |
%20PRIVATE%20LIMITED%20-%20320749_MIRA%2004-May-2015_files/image020.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT IS NOT AVAILABLE
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
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 |
Yes |
NOTE: Registered Office
of the company has been shifted from “3rd Floor, Victor House,
142/C, N.M. Joshi Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India”
to the present Address.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from directors |
0.000 |
0.106 |
|
|
|
|
|
Total |
0.000 |
0.106 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10517285 |
06/08/2014 |
60,000,000.00 |
BANK OF BARODA |
MID CORPORATE, 105 10TH FLOOR, MAKER CHAMBER - III, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
C18693093 |
|
2 |
10454893 |
19/09/2013 |
11,100,000.00 |
BANK OF BARODA |
GAMDEVI BRANCH, GEETA BUILDING, PANDIT RAMABAI ROAD, GAMDEVI, MUMBAI - 400007, MAHARASHTRA, INDIA |
B87491627 |
|
3 |
10439717 |
23/07/2013 |
40,000,000.00 |
BANK OF BARODA |
GAMDEVI BRANCH, GEETA BUILDING, PANDIT RAMABAI ROAD, GAMDEVI, MUMBAI - 400007, MAHARASHTRA, INDIA |
B80724107 |
|
4 |
10364735 |
13/06/2012 |
150,000,000.00 |
BANK OF BARODA |
GAMDEVI BRANCH, GEETA BUILDING, PANDIT RAMABAI ROAD, GAMDEVI, MUMBAI - 400007, MAHARASHTRA, INDIA |
B43293554 |
|
5 |
10364734 |
19/09/2013 * |
240,000,000.00 |
BANK OF BARODA |
GAMDEVI BRANCH, GEETA BUILDING, PANDIT RAMABAI ROAD, GAMDEVI, MUMBAI - 400007, MAHARASHTRA, INDIA |
B87491049 |
* Date of charge modification
FIXED ASSETS:
·
Plant and Machinery
·
Air Conditioner
·
Office Equipment
·
Furniture and Fixtures
·
Computer
·
Vehicles
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 : |
PPT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
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 |
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 |
|
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.