MIRA INFORM REPORT
|
Report No. : |
321339 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
LECHLER INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-109, Road No. 18, Wagle Industrial Estate, Thane – 400604,
Maharashtra |
|
Tel No.: |
91-22-40634444 |
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|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.12.2011 |
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|
|
|
Date of
Incorporation : |
13.04.1993 |
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|
|
|
Com. Reg. No.: |
11-071587 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.100.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29290MH1993PTC071587 |
|
|
|
|
TIN No.: |
Not Available |
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IEC No.: |
0393022447 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Spray Nozzle. |
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|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (19) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. As per registrar of companies the date of balance sheet i.e.
financials filed is shown as 31st December 2013 but the documents
related to the financials for the year 2012 and 2013 is not available from
any source. As per available financial of 2011, the company has good liquidity
position and profit margin of the company is decent. However, business is active as per status shown in the registrar of
companies. Payment terms are unknown. The company can be considered for business dealing on a safe and
secured 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. Anil |
|
Designation : |
Accountant |
|
Contact No.: |
91-9892786951 |
|
Date : |
06.05.2015 |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. A-109, Road No. 18, Wagle Industrial Estate, Thane – 400604,
Maharashtra, India |
|
Tel. No.: |
91-22-40634444 |
|
Mobile No.: |
91-9892786951 (Mr. Anil) |
|
Fax No.: |
91-22-40634498 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
Locality : |
Industrial |
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|
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Head Office / Corporate Office / Factory 2 : |
Plot No. B-2, Main Road, Wagle Industrial Estate, Thane – 400604,
Maharashtra, India |
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|
|
|
Branch Offices : |
Located At
|
DIRECTORS
As on 27.03.2014
|
Name : |
Mr. Suresh Vasani |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
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|
Address : |
302, Rameshwar Neelkanth Valley, 7th Road, Rajawadi,
Ghatkoper (West), Mumbai – 400077, Maharashtra, India |
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|
Date of Birth/Age : |
10.07.1961 |
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|
Date of Appointment : |
13.04.1993 |
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DIN No.: |
00864154 |
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Other Directorship:
|
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||||||||||||||||||||||||||||||||||||
|
Name : |
Kunzamnn Guido |
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|
Designation : |
Director |
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|
Address : |
Steinstrasse 37, 71296, Heimsheim, 71296, Germany, India |
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|
Date of Birth/Age : |
20.08.1967 |
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|
Date of Appointment : |
28.06.2011 |
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DIN No.: |
03582219 |
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Other Directorship:
|
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||||||||||||||||||||||||||||||||||||
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Name : |
Patrick Uwe Muff |
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|
Designation : |
Nominee Director |
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|
Address : |
Amtaeckerstrasse 46, 72555, Metzingen, Na, Germany |
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|
Date of Birth/Age : |
24.01.1977 |
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|
Date of Appointment : |
14.03.2013 |
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|
DIN No.: |
06756326 |
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KEY EXECUTIVES
|
Name : |
Mr. Anil |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 27.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
Walter Lechler |
|
1000 |
|
Emmerich Bauer |
|
1000 |
|
Lechler Tanjain International |
|
998000 |
|
Total |
|
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.03.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.98 |
|
Directors or relatives of Directors |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Spray Nozzle. |
|
|
|
|
Products : |
Spray Nozzle |
|
|
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|
Brand Names : |
“LECHLER” |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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|
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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|
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Auditors : |
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|
Name : |
Rajesh Bhupendra and Company Chartered Accountants |
|
Address : |
69 K J Trust Building, 1st Floor, 34A Khadak Street, Masjid Bunder, Mumbai – 400009, Maharashtra, India |
|
PAN No.: |
AAGPS2951A |
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Memberships : |
-- |
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Collaborators : |
-- |
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|
Associate (As on
31.12.2011) |
|
CAPITAL STRUCTURE
As on 27.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEE
|
SOURCES OF FUNDS |
|
31.12.2011 |
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
100.000 |
100.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
218.824 |
294.557 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
318.824 |
394.557 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
318.824 |
394.557 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
96.295 |
99.375 |
|
|
Capital work-in-progress |
|
4.770 |
3.880 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
49.855 |
49.855 |
|
|
DEFERRED TAX ASSETS |
|
6.105 |
4.983 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
129.045 |
86.970 |
|
|
Sundry Debtors |
|
80.060 |
84.083 |
|
|
Cash & Bank Balances |
|
11.791 |
15.984 |
|
|
Other Current Assets |
|
8.447 |
7.842 |
|
|
Loans & Advances |
|
43.222 |
40.801 |
|
Total
Current Assets |
|
272.565 |
235.680 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
120.828 |
86.455 |
|
|
Other Current Liabilities |
|
(3.062) |
2.761 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
117.766 |
89.216 |
|
|
Net Current Assets |
|
154.799 |
146.464 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
311.824 |
304.557 |
|
|
SOURCES OF FUNDS |
|
|
31.12.2009 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
10.000 |
|
(b) Reserves & Surplus |
|
|
282.670 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
292.670 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
97.653 |
|
(c) Other
current liabilities |
|
|
13.770 |
|
(d) Short-term
provisions |
|
|
0.000 |
|
Total Current
Liabilities (4) |
|
|
111.423 |
|
|
|
|
|
|
TOTAL |
|
|
404.093 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
108.539 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
69.039 |
|
(c) Deferred tax assets (net) |
|
|
3.718 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
181.296 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
81.017 |
|
(c) Trade
receivables |
|
|
70.475 |
|
(d) Cash
and cash equivalents |
|
|
19.740 |
|
(e)
Short-term loans and advances |
|
|
38.873 |
|
(f) Other
current assets |
|
|
12.692 |
|
Total
Current Assets |
|
|
222.797 |
|
|
|
|
|
|
TOTAL |
|
|
404.093 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
376.166 |
364.489 |
329.360 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
|
EXPENSES |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
82.871 |
104.470 |
92.753 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
14.776 |
15.866 |
18.391 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
68.095 |
88.604 |
74.362 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
20.971 |
27.059 |
23.457 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) AFTER
TAX |
47.124 |
61.545 |
50.905 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
189.806 |
194.719 |
205.609 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed Dividend |
34.293 |
12.444 |
44.100 |
|
|
|
|
Interim Dividend |
0.000 |
30.000 |
0.000 |
|
|
|
|
Dividend Distribution Tax |
5.563 |
7.214 |
7.495 |
|
|
|
|
General Reserve |
7.200 |
16.800 |
10.200 |
|
|
|
BALANCE CARRIED
TO THE B/S |
189.874 |
189.806 |
194.719 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.71 |
NA |
NA |
||
Expected Sales (2014-2015): Rs.450.000 Million
The above information has been parted by Mr. Anil
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
Net Profit Margin (PAT/Sales) |
(%) |
12.53 |
16.89 |
15.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.46 |
26.44 |
22.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.22 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31 |
2.64 |
2.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2009 |
31.12.2010 |
31.12.2011 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
10.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
282.670 |
294.557 |
218.824 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
292.670 |
394.557 |
318.824 |
|
|
|
|
|
|
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 |
31.12.2009 |
31.12.2010 |
31.12.2011 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
329.360 |
364.489 |
376.166 |
|
|
|
10.666 |
3.204 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2009 |
31.12.2010 |
31.12.2011 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
329.360 |
364.489 |
376.166 |
|
Profit |
50.905 |
61.545 |
47.124 |
|
|
15.46% |
16.89% |
12.53% |
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
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
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 |
No |
|
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 |
No |
|
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 |
OPERATIONS (AS
ON 31.12.2011)
The Revenue from Operations during the year ended 31 December, 2011 on gross basis was Rs.402.990 Million net of excise duty is Rs.376.166 Million as compared to Rs.388.212 Million net of excise duty is Rs.364.489 Million for the previous year. The Company has on hand orders worth approximately Rs.70.000 Million.
FUTURE PLANS (AS ON
31.12.2011)
The Company is actively pursuing efficient manufacturing technologies to improve efficiencies and thereby increasing the production capacity
NO CHARGES EXIST FOR
COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 records 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.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
19 |
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.