MIRA INFORM REPORT
|
Report No. : |
321132 |
|
Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
WELSPUN GLOBAL BRANDS LIMITED (w.e.f. 28.05.2013) |
|
|
|
|
Formerly Known
As : |
WELSPUN HOMETEX LIMITED (w.e.f. 14.12.2004) WELSPUN RETAIL LIMITED |
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|
Registered
Office : |
Survey No. 675, Welspun City, Village Varsamedi, Anjar, District Kutch
– 370110, Gujarat |
|
Tel. No.: |
91-260-2437437 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.12.2004 |
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|
|
|
Com. Reg. No.: |
04-045144 |
|
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|
Capital
Investment / Paid-up Capital : |
Rs. 403.840 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U71210GJ2004PLC045144 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACW5582G |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in trading in home textile products |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and well-established company having fine track. Financial position of the company is good. Fundamentals of company are
strong and healthy. Rating also derives strength from promoter’s extensive experience,
established market position and long track record of the company. Trade relations are fair. Payment terms are reported to be regular and
as per commitments. In the view of experienced promoters, subject can be considered normal
for business dealings at usual trade terms and conditions. Note: As confirmed by Mr. Shashikant Thorath, company secretary that
WELSPUN GLOBAL BRANDS LIMITED with CIN No. L51100GJ2000PLC037204 was
established in the year 2000 has been amalgamated with WELSPUN INDIA LIMITED
in the year 2012 and after amalgamation WELSPUN GLOBAL BRANDS LIMITED (CIN
No. L51100GJ2000PLC37204) is no more in existence. Further he also confirmed that WELSPUN RETAIL LIMITED which was originally
incorporated as WELSPUN HOMETEX LIMITED in the year 2004 with CIN No
U71210GJ2004PLC045144 has changed its name WELSPUN GLOBAL BRANDS LIMITED. |
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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 |
INDIA RATING |
|
Rating |
Long Term Issuer Rating IND (AA-) |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
10TH February 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (TEL No. 91-22-66136403)
LOCATIONS
|
Registered Office : |
Survey No. 675, Welspun City, Village Varsamedi, Anjar, District Kutch
– 370110, Gujarat, India |
|
Tel. No.: |
91-260-2437437 |
|
Fax No.: |
91-260-2437088 |
|
E-Mail : |
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Branch Office: |
6th Floor, Welspun House, Kamala Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-2266136000 |
DIRECTORS
As on: 11.09.2014
|
Name : |
Mr. Rajesh Rameshkumar Mandawewala |
|
Designation : |
Director |
|
Address : |
161/171-B, Tanna Residency, Bay View, Opposite Sidhivinayak Temple, Prabhadevi, Mumbai - 400025, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1962 |
|
Date of Appointment : |
07.12.2012 |
|
DIN No.: |
00007179 |
|
|
|
|
Name : |
Mrs. Dipali Balkrishan Goenka |
|
Designation : |
Managing Director |
|
Address : |
Rocky Isle 46/C, B. Desai Road, Breach Candy, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1969 |
|
Date of Appointment : |
30.12.2005 |
|
DIN No.: |
00007199 |
|
|
|
|
Name : |
Mr. Atul Manubhai Desai |
|
Designation : |
Director |
|
Address : |
C/62, Vellard View, 14, Tardeo Road, Haji Ali, Mumbai - 400034, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1950 |
|
Date of Appointment : |
07.12.2012 |
|
DIN No.: |
00019443 |
|
|
|
|
Name : |
Mr. Arun Lalchand Todarwal |
|
Designation : |
Director |
|
Address : |
81, Shivner, 84, Nepean Sea Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1957 |
|
Date of Appointment : |
07.12.2012 |
|
DIN No.: |
00020916 |
|
|
|
|
Name : |
Mrs. Revathy Ashok |
|
Designation : |
Director |
|
Address : |
139/6-2 Domlur Layout, Sharadamma Layout, Bangalore-560071, Karnataka, India |
|
Date of Birth/Age : |
16.01.1959 |
|
Date of Appointment : |
07.12.2012 |
|
DIN No.: |
00057539 |
|
|
|
|
Name : |
Mr. Balkrishan Gopiram Goenka |
|
Designation : |
Director |
|
Address : |
Rocky Isle 46/C, B, Desai Raod Breachcandy, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1966 |
|
Date of Appointment : |
07.12.2012 |
|
DIN No.: |
00270175 |
|
|
|
|
Name : |
Mr. Viswanathan Hariharan Kollengode |
|
Designation : |
Director |
|
Address : |
Flat No.4, Kalyani Uttam Society, ST Anthony Road, Chembur, Mumbai-400071, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1962 |
|
Date of Appointment : |
30.08.2011 |
|
DIN No.: |
00391263 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh Rambabu Khandelwal |
|
Designation : |
Chief Executive Officer |
|
Address : |
A-404, Saileela, Anand Nagar,, Dahisar(East), Mumbai - 400068, Maharashtra, India |
|
Date of Appointment : |
20.05.2014 |
|
PAN No.: |
ACVPK1804H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 11.09.2014
|
Names of Shareholders (Equity Share) |
|
No. of Shares |
|
Balkrishan Goenka |
|
1 |
|
Dipali Goenka |
|
1 |
|
Welspun Mercantile Limited, India |
|
1 |
|
Welspun Fintrade Private Limited, India |
|
1 |
|
Welspun Wintex limited, India |
|
1 |
|
Krishiraj Trading limited, India |
|
1 |
|
Welspun India Limited, India |
|
23065497 |
|
Bennett, Coleman and Company Limited, India |
|
463909 |
|
Total |
|
23529412 |
|
Names of Shareholders (Preference Share) |
|
No. of Shares |
|
Welspun India Limited, India |
|
16854375 |
|
Total |
|
16854375 |
Equity Share Break up (Percentage of Total Equity)
As on
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading in home textile products |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
Note: The working capital loan which includes cash credits and packing credit from banks, are secured by hypothecation of traded goods, book debts and other current assets and charge on Fixed assets of the company |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
7th Floor, Tower A Wing 1, Business Bay, Airport Road, Yerwada Pune-411006 India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Welspun India Limited (L17110GJ1985PLC033271) |
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Subsidiary Company: |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
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CAPITAL STRUCTURE
As on 11.09.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Million |
|
17,500,000 |
Preference shares |
Rs.10/- each |
Rs. 175.000 Million |
|
|
Total |
|
Rs. 425.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23,529,412 |
Equity Shares |
Rs.10/- each |
Rs. 235.294 Million |
|
16,854,375 |
Preference shares |
Rs.10/- each |
Rs. 168.544 Million |
|
|
Total |
|
Rs. 403.838
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 |
403.840 |
403.640 |
379.740 |
|
(b) Reserves & Surplus |
3351.710 |
2141.420 |
1042.330 |
|
(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) |
3755.550 |
2545.060 |
1422.070 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8.110 |
13.000 |
2.790 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
28.740 |
22.320 |
21.920 |
|
Total Non-current
Liabilities (3) |
36.850 |
35.320 |
24.710 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1330.720 |
867.850 |
867.230 |
|
(b) Trade
payables |
2536.780 |
1821.450 |
2696.260 |
|
(c) Other
current liabilities |
293.890 |
697.060 |
78.210 |
|
(d) Short-term
provisions |
12.650 |
25.520 |
392.500 |
|
Total Current
Liabilities (4) |
4174.040 |
3411.880 |
4034.200 |
|
|
|
|
|
|
TOTAL |
7966.440 |
5992.260 |
5480.980 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11.740 |
10.590 |
19.440 |
|
(ii)
Intangible Assets |
15.740 |
20.260 |
12.530 |
|
(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 |
697.770 |
562.560 |
561.080 |
|
(c) Deferred tax assets (net) |
52.250 |
301.130 |
532.140 |
|
(d) Long-term Loan and Advances |
77.870 |
235.760 |
127.750 |
|
(e) Other
Non-current assets |
124.350 |
133.070 |
0.330 |
|
Total Non-Current
Assets |
979.720 |
1263.370 |
1253.270 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1246.990 |
1074.280 |
715.040 |
|
(c) Trade
receivables |
2585.940 |
1629.310 |
1496.170 |
|
(d) Cash
and cash equivalents |
66.330 |
122.670 |
219.930 |
|
(e)
Short-term loans and advances |
1739.210 |
1556.650 |
1794.870 |
|
(f) Other
current assets |
1348.250 |
345.980 |
1.700 |
|
Total
Current Assets |
6986.720 |
4728.890 |
4227.710 |
|
|
|
|
|
|
TOTAL |
7966.440 |
5992.260 |
5480.980 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
36638.180 |
31083.580 |
25662.000 |
|
|
|
Other Income |
56.370 |
4.110 |
41.680 |
|
|
|
TOTAL (A) |
36694.550 |
31087.690 |
25703.680 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
32295.640 |
27823.600 |
23375.740 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(172.710) |
(360.560) |
46.040 |
|
|
|
Employees benefits expense |
229.220 |
210.540 |
238.530 |
|
|
|
Extra-ordinary Item |
21.390 |
103.220 |
853.840 |
|
|
|
Other expenses |
3019.240 |
2184.320 |
2478.950 |
|
|
|
TOTAL
(B) |
35392.780 |
29961.120 |
26993.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
1301.770 |
1126.570 |
(1289.420) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
403.010 |
473.290 |
346.850 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
898.760 |
653.280 |
(1636.270) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
9.000 |
11.360 |
42.740 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
889.760 |
641.920 |
(1679.010) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
318.710 |
231.010 |
(523.490) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (J) |
571.050 |
410.910 |
(1155.520) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
31457.820 |
27834.820 |
23255.620 |
|
|
|
Interest |
9.450 |
0.000 |
6.660 |
|
|
TOTAL EARNINGS |
31467.270 |
27834.820 |
23262.280 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.25 |
17.42 |
(49.11) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.56 |
1.32 |
(4.50) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.55 |
3.62 |
(5.02) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.33 |
12.52 |
(38.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.25 |
(1.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.36 |
0.35 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67 |
1.39 |
1.05 |
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 |
379.740 |
403.640 |
403.840 |
|
Reserves & Surplus |
1042.330 |
2141.420 |
3351.710 |
|
Net worth |
1422.070 |
2545.060 |
3755.550 |
|
|
|
|
|
|
long-term borrowings |
2.790 |
13.000 |
8.110 |
|
Short term borrowings |
867.230 |
867.850 |
1330.720 |
|
Total borrowings |
870.020 |
880.850 |
1338.830 |
|
Debt/Equity ratio |
0.612 |
0.346 |
0.356 |
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 |
25662.000 |
31083.580 |
36638.180 |
|
|
|
21.127 |
17.870 |
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 |
25662.000 |
31083.580 |
36638.180 |
|
Profit/ Loss |
(1155.520) |
410.910 |
571.050 |
|
|
(4.50%) |
1.32% |
1.56% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Million) |
||
|
Current maturities of long-term debt |
2.410 |
2.790 |
12.850
|
|
|
|
|
|
|
Total |
2.410 |
2.790 |
12.850
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
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 “Survey No 76, Village Moraivapi District Valsaad-396191, Gujarat, India to the present address w.e.f. 31.12.2012.
GENERAL INFORMATION:
The Company was incorporated on December 14, 2004 and is engaged in trading in home textile products mainly in the international markets and on a smaller scale in the domestic market. The composite scheme of arrangement (the "Scheme") between the Company (Formerly known as Welspun Retail Limited, Second Transferee Company), Welspun Global Brands Limited (Transferor Company) and Welspun India Limited (First Transferee Company) was approved by the High Court of Gujarat at Ahmedabad by its order dated November 26, 2012. The order has been filed with the Registrar of Companies on December 7, 2012. Pursuant to the Scheme, the name of the Company has been changed from Welspun Retail Limited to Welspun Global Brands Limited. The Company has received a fresh certificate of incorporation consequent upon change of name dated May 28, 2013 from the Registrar of Companies, Gujarat, Dadra and Nagar Havelli.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances, others |
8.110 |
0.000 |
|
Loans and advances from related parties |
0.000 |
13.000 |
|
Total |
8.110 |
13.000 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10558660 |
28/03/2015 |
485,000,000.00 |
State Bank of Bikaner and jaipur |
Welspun House, Kamala Mills Compound, Lower Parel, Mumbai, Mumbai - 400013, Maharashtra, INDIA |
C48770275 |
|
2 |
10553144 |
11/02/2015 |
213,500,000.00 |
STATE BANK OF HYDERABAD |
Corporate Finance Branch, C-11, 1st Floor, Mitta l Towers, 210, Nariman Point, Mumbai - 400021, Maharashtra , INDIA |
C45650488 |
|
3 |
10395081 |
04/03/2014 * |
4,648,900,000.00 |
State Bank of Bikaner and Jaipur |
Welspun House, Kamala City, Senapati Bapat Marg, Lower Parel, MUMBAI -400013, Maharashtra, INDIA |
B98335433 |
|
4 |
10113706 |
01/07/2008 |
120,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, Maharashtra, INDIA |
A41984006 |
|
5 |
10060398 |
21/07/2011 * |
430,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, Maharashtra, INDIA |
B18174722 |
|
6 |
10046840 |
11/04/2007 |
100,000,000.00 |
The Industrial Development Bank of India Limited |
Venkatesh Chambers, Ghanshyam Talwatkar Marg, Post Box No. 714, Fort, Mumbai - 400001 , Maharashtra, INDIA |
A13739321 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Disputed Sales Tax Liabilities |
7.120 |
|
Claims against the Company not acknowledged as debts [d] Excise, Customs and Service Tax Matters |
48.510 |
|
Total |
55.630 |
FIXED ASSETS:
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipment
- Leasehold improvements
- 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 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. |
|
|
1 |
Rs. |
|
Euro |
1 |
Rs. |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
65 |
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.