MIRA INFORM REPORT
|
Report No. : |
322979 |
|
Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
RATHI BARS LIMITED |
|
|
|
|
Registered
Office : |
A-24/7, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi -110044 |
|
Tel. No.: |
91-11-43165400 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.08.1993 |
|
|
|
|
Com. Reg. No.: |
55-054781 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 163.304 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1993PLC054781 |
|
|
|
|
IEC no.: |
0504089846 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAR0737N |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Company is engaged in the manufacturing of reinforcement steel bars (TMT) and Ingots/ Billets. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is well established company having satisfactory track. Company has increase its profit in FY 14 liquidity and net worth is good.
Overall financial are strong. Trade relations are fair. Business is active. Payment terms are
reported to be regular. The company can be considered for business dealing 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term = “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
18.05.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term = “A3+” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
18.05.2015 |
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 PARTED BY
|
Name : |
Mr. H.S. Rawat |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-9810218979 |
|
Date : |
15.05.2015 |
LOCATIONS
|
Registered Office : |
A-24/7, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi -110044, India |
|
Tel. No.: |
91-11-43156400 |
|
Mobile No.: |
91-9810218978 (Mr. H.S. Rawat) |
|
Fax No.: |
91-11-40597117 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Factory : |
SP 1 - 7, RIICO Industrial Area, Khushkhera, P.O.Tapukra, District Alwar, Rajasthan, India |
|
Tel. No.: |
91-01493-518836 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Kamlesh Kumar Rathi |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Anurag Rathi |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. Uddhav Rathi |
|
Designation : |
Additional Director |
|
|
|
|
Name : |
Mr. Harkishore Kejriwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok Kumar Garg |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Binod Kumar Maheshwari |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. H.S. Rawat |
|
Designation : |
Senior Manager |
|
|
|
|
Name : |
Mr. P. C. Agarwal |
|
Designation : |
Compliance Officer |
|
Address : |
A-24/7, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi-110044 |
|
Tel no. : |
91-11-43165400 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of
Shares |
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
4458686 |
27.30 |
|
|
5183702 |
31.74 |
|
|
9642388 |
59.05 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
9642388 |
59.05 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
|
|
|
|
586303 |
3.59 |
|
|
|
|
|
|
4487796 |
27.48 |
|
|
1335107 |
8.83 |
|
|
172225 |
1.05 |
|
|
138576 |
0.85 |
|
|
33649 |
0.21 |
|
|
6581431 |
40.95 |
|
Total Public
shareholding (B) |
6581431 |
40.95 |
|
Total (A)+(B) |
16223819 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
16223819 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in the manufacturing of reinforcement steel bars (TMT) and Ingots/ Billets. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (31.03.2014)
|
Particulars |
Unit |
Licensed
Capacity |
Actual
Production |
|
Steel Bars |
MT |
100000.000 |
71520.220 |
|
Ingot/Billets |
MT |
68500.000 |
35439.565 |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
Wholesaler and Retailers
|
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No. of Employees : |
500 (Approximately) ) |
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Bankers : |
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|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. K. Vaish and Company Chartered Accountants |
|
Address : |
B-101, Gateway Towers, 24, Sector-IV, Vaishali, Distt. Ghaziabad, Uttar Pradesh, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
Avnesh Jain and Company Chartered Accountants |
|
Address : |
39, Adarsh Basti Tonk Fatak, Jaipur-302015 |
|
Tel no. |
91- 141-2593495 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Companies /
Associates in which the Key
Managerial Personnel and/or
their relatives exercise
significant influence : |
Rathi Special Steels Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs. 180.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16330357 |
Equity Shares |
Rs.10/- each |
Rs. 163.304
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 |
163.304 |
163.304 |
163.304 |
|
(b) Reserves & Surplus |
574.258 |
549.894 |
528.476 |
|
(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) |
737.562 |
713.198 |
691.780 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
62.095 |
90.361 |
77.326 |
|
(b) Deferred tax liabilities
(Net) |
42.173 |
38.420 |
37.394 |
|
(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) |
104.268 |
128.781 |
114.720 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
276.989 |
259.041 |
199.104 |
|
(b) Trade payables |
124.679 |
119.870 |
129.738 |
|
(c) Other current liabilities |
143.501 |
88.157 |
75.026 |
|
(d) Short-term provisions |
0.465 |
0.761 |
0.519 |
|
Total
Current Liabilities (4) |
545.634 |
467.829 |
404.387 |
|
|
|
|
|
|
TOTAL |
1387.464 |
1309.808 |
1210.887 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
322.812 |
302.584 |
325.437 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
36.245 |
39.200 |
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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
359.057 |
341.784 |
325.437 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
232.947 |
158.159 |
91.306 |
|
(b) Inventories |
170.851 |
152.459 |
141.220 |
|
(c) Trade receivables |
456.656 |
465.608 |
472.006 |
|
(d) Cash and cash equivalents |
8.450 |
19.258 |
16.480 |
|
(e) Short-term loans and
advances |
159.503 |
172.540 |
164.438 |
|
(f) Other current assets |
0.000 |
0.000 |
|
|
Total
Current Assets |
1028.407 |
968.024 |
885.450 |
|
|
|
|
|
|
TOTAL |
1387.464 |
1309.808 |
1210.887 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2716.404 |
2812.065 |
3116.802 |
|
|
Other Income |
22.696 |
5.421 |
10.662 |
|
|
TOTAL
(A) |
2739.100 |
2817.486 |
3127.464 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2187.405 |
2254.828 |
2421.342 |
|
|
Purchases of Stock-in-Trade |
4.031 |
2.909 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
11.724 |
(11.866) |
(63.566) |
|
|
Employees benefits expense |
38.034 |
39.053 |
37.582 |
|
|
Other expenses |
394.139 |
443.237 |
652.516 |
|
|
TOTAL
(B) |
2635.333 |
2728.161 |
3047.874 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
103.767 |
89.325 |
79.590 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
44.584 |
35.309 |
28.136 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
59.183 |
54.016 |
51.454 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
26.174 |
21.870 |
20.473 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
33.009 |
32.146 |
30.981 |
|
|
|
|
|
|
|
Less |
TAX (H) |
8.646 |
10.728 |
1.376 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
24.363 |
21.418 |
29.605 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.49 |
1.31 |
1.81 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
70.000 |
Expected Sales (2015-2016) : Rs.80.000 Million
The above information has been parted by Mr. H.S. Rawat
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
146.717 |
72.229 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.90 |
0.76 |
0.95 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.82 |
3.18 |
2.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.44 |
2.53 |
2.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.05 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.46 |
0.49 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
2.07 |
2.19 |
STOCK PRICES
|
Face Value |
Rs.10.00 |
|
Market Value |
Rs.6.70 |
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 |
163.304 |
163.304 |
163.304 |
|
Reserves & Surplus |
528.476 |
549.894 |
574.258 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
691.780 |
713.198 |
737.562 |
|
|
|
|
|
|
long-term borrowings |
77.326 |
90.361 |
62.095 |
|
Short term borrowings |
199.104 |
259.041 |
276.989 |
|
Total
borrowings |
276.430 |
349.402 |
339.084 |
|
Debt/Equity
ratio |
0.400 |
0.490 |
0.460 |
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 |
3116.802 |
2812.065 |
2716.404 |
|
|
|
(9.777) |
(3.402) |
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 |
3116.802 |
2812.065 |
2716.404 |
|
Profit |
29.605 |
21.418 |
24.363 |
|
|
0.95% |
0.76% |
0.90% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Body Corporates and Directors |
0.162 |
16.608 |
|
Security deposits |
25.369 |
25.369 |
|
|
|
|
|
Total |
25.531 |
41.977 |
REVIEW OF OPERATIONS
AND FUTURE OUTLOOK
The Company has made a profit of Rs. 24.364 Million (After Tax) during the year in comparison of Rs. 21.418 Million in previous year and is hopeful of maintaining and improving its positions in the future.
OPERATIONAL REVIEW
The Company had produced 71520.220 MT Steel Bars (including Trading Purchase of 99.150 M.T of Steel Bars) and 35439.565 MT Ingots/ Billets as against production of 68523.150 MT Steel Bars (Nil Trading Purchase) and 33607.355 MT ingots/Billets during the corresponding period of last year.
MANAGEMENT DISCUSSION
AND ANALYSIS
GLOBAL AND INDIAN
ECONOMIC SCENERIO
After a period of 5 years, since the break out of the global financial crisis and with significant liquidity injection by several large economies, the macro data from the developed economies started showing trends of slow improvement during 2013 even though several structural weaknesses still needs to be addressed before these trends can be considered sustainable. Global growth remains below pre-crisis levels and much weaker than during the rebound that took place in 2010 and 2011.
In 2013, global steel demand grew by 3.6% to 1.48 billion tones due to improved performance in the developed economies especially in North America and Euro Zone in the second half of the year. However, growth in emerging markets slowed down in 2013 due to weak demand especially in developed countries and tighter financial conditions. The World Crude steel production rose by 3.5% to 1.607 billion tones in the year 2013.
In 2013, India remained the 4th largest steel producing country in the world, behind China, Japan and USA. Crude steel production grew by 4.6% to 81.2 million tones and steel demand grew by 1.8%. India's GDP growth has slowed down to 5% in 2013 on account of rising inflation and tight monetary controls. This has led to weak domestic steel demand, which grew by 3.3% in 2013 inspite of rise in demand in the last quarter. This has resulted in India becoming the net exporter of steel in Financial Year2013-14 after a gap of six years. Total steel exports by India during the Financial Year stood at 5.59 million tones, as against imports of 5.44 million tones as per the reports issued by Joint Plant Committee (JPC), a unit of the steel ministry.
India's GDP is expected to grow by 5% and steel demand is expected to growth by 3.3% in 2014. The automotive sector (passenger vehicles and commercial vehicles), which grew by 6% in the Financial Year 2013-14, is expected to grow by about 3%-4% in the Financial Year 2014-2015. Similarly, the construction sector growth is expected to grow by 5% in the next year compared to growth of 1.9% in the financial Year 2013-14.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date
of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10402028 |
09/02/2013 |
20,000,000.00 |
RAJASTHAN STATE INDUSTRIAL DEVELOPMENT
AND INVESTM |
UDYOG BHAWAN TILAK MARG, JAIPUR, Rajasthan - 302005, INDIA |
B67722850 |
|
2 |
10289084 |
04/06/2011 |
20,000,000.00 |
RAJASTHAN STATE INDUSTRIAL DEVELOPMENT AND INVESTM |
UDYOG BHAWAN TILAK MARG, JAIPUR, Rajasthan - 302005, INDIA |
B13820691 |
|
3 |
80007263 |
29/11/2012 * |
292,500,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
A-1/19, Safdarjung Enclave, New Delhi, Delhi - 110029, INDIA |
B63846075 |
FIXED ASSETS
- Leashold Land
- Building
- Plant and Machinery
- Tubewell
- Furniture
- Vehicle
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.63.57 |
|
|
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.