MIRA INFORM REPORT

 

 

Report No. :

324036

Report Date :

25.05.2015

 

IDENTIFICATION DETAILS

 

Name :

SHRI BHAGWATI FLOUR MILLS PRIVATE LIMITED

 

 

Registered Office :

Siddheswari Estate, Near. AMTS Bus Stand, Naroda, Ahmedabad-382325, Gujarat

Tel. No.:

91-79-22821464/22842651/52/53/54

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.03.1992

 

 

Com. Reg. No.:

04-017267

 

 

Capital Investment / Paid-up Capital :

Rs. 42.500 Million

 

 

CIN No.:

[Company Identification No.]

U15310GJ1992PTC017267

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACB8970E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Trader of Flours

 

 

No. of Employees :

25 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 440000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in 1992, engaged in manufacturing, trading and exporting of all types of Flours, Spices, Lentils / Pulse, Instant Mixes, Khakhara, Ready to Eat etc.

 

Subject is well established company having satisfactory track record.

 

Rating takes into consideration company’s long established history of business operations supported by above average top line and diversified market operations.

 

Trade relations are fair. Business is active. Payments terms are reported to be usually correct.

 

In view of aforesaid, company can be considered for the business dealings at usual trade terms and conditions. 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – 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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 (GENERAL DETAILS)

 

Name :

Mr. Parikh

Designation :

Chief Executive Officer

Contact No.:

91-9898944455

Date :

22.05.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Siddheswari Estate, Near. AMTS Bus Stand, Naroda, Ahmedabad-382325, Gujarat, India

Tel. No.:

91-79-22821464/22842651/52/53/54

Mobile No.:

91-9898944455 (Mr. Parikh)

Fax No.:

Not Available

E-Mail :

jindagi@gkcco.com

gaaybrand@gmail.com

Website :

www.bhagawatiexports.com 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Nitinkumar Patel

Designation :

Director

Address :

12, Heritej Residency, Thaltej, Ta. Daskroi, Dist. Ahmedabad, Ahmedabad- 382428, Gujarat, India

Date of Appointment :

01.04.1992

DIN No.:

01872924

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U15310GJ1992PTC017267

SHRI BHAGWATI FLOUR MILLS PRIVATE LIMITED

Director

01/04/1992

01/04/1992

-

Active

NO

2

U15319GJ1994PTC021888

SHREE BHAGWATI FLOUR AND FOODS PRIVATE LIMITED

Director

25/04/1994

25/04/1994

-

Active

NO

3

L15140GJ1985PLC007845

ADI FINECHEM LIMITED

Director

24/06/2013

03/11/2012

-

Active

NO

 

 

Name :

Mr. Vashistha Nitinbhai Patel

Designation :

Director

Address :

R-12, Heritege Residency, Nr. Heritege Homes, Thaltej Shilaj Road, Ahmedabad-380054, Gujarat, India

Date of Appointment :

01.04.1998

DIN No.:

00953577

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U15310GJ1992PTC017267

SHRI BHAGWATI FLOUR MILLS PRIVATE LIMITED

Director

01/04/1998

01/04/1998

-

Active

NO

2

U15319GJ1994PTC021888

SHREE BHAGWATI FLOUR AND FOODS PRIVATE LIMITED

Director

07/05/1999

07/05/1999

-

Active

NO

 

 

Name :

Mrs. Hemanginiben Patel

Designation :

Director

Address :

R-12, Heritege Residency, Nr. Heritege Homes, Thaltej Shilaj Road, Ahmedabad-380054, Gujarat, India

Date of Appointment :

01.07.1992

DIN No.:

01872919

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U15310GJ1992PTC017267

SHRI BHAGWATI FLOUR MILLS PRIVATE LIMITED

Director

01/07/1992

01/07/1992

-

Active

NO

2

U15319GJ1994PTC021888

SHREE BHAGWATI FLOUR AND FOODS PRIVATE LIMITED

Director

25/04/1994

25/04/1994

-

Active

NO

 

 

Name :

Mrs. Amula Vashistha Patel

Designation :

Additional Director

Address :

R-12, Heritege Residency, Nr. Heritege Homes, Thaltej Shilaj Road, Ahmedabad-380054, Gujarat, India

Date of Appointment :

01.08.2011

DIN No.:

03587643

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U15319GJ1994PTC021888

SHREE BHAGWATI FLOUR AND FOODS PRIVATE LIMITED

Additional director

01/04/2011

01/04/2011

-

Active

NO

2

U15310GJ1992PTC017267

SHRI BHAGWATI FLOUR MILLS PRIVATE LIMITED

Additional director

01/08/2011

01/08/2011

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Parikh

Designation :

Chief Executive Officer

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

Percentage

Nitinkumar Patel

2124900

50.00

Vashistha Nitinbhai Patel

864300

20.34

Hemanginiben Patel

811800

19.10

Amula Vashistha Patel

350000

8.24

Jyotsanaben Ramachandra Patel 

49500

1.16

Taruben Nalinkumar Surti

24750

0.58

Lataben Arvindkumar Surti

24750

0.58

Total

4250000

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Trader of Flours

 

 

Products :

Item Code No.

Product Description

11010000

Atta, Besan, Malda, Soji

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash / Advance Payment / Credit

 

 

Purchasing :

Cash / Advance Payment / Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Balaji Wafers, Rajkot

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

25 (Approximately)

 

 

Bankers :

Bank Name

Axis Bank Limited

Branch

Trishul, 3rd Floor, Opposite Samartheswar Temple, Near Law Garden, Ellisbridge,, Ahmedabad - 380006, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Standard Chartered Bank, Ground Floor, Abhijit-II, Mithakhali Six Roads, Navrangpura, Ahmedabad - 380009, Gujarat, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

81.853

44.437

Loans and advances from related parties

52.100

52.100

 

 

 

Short-term borrowings

 

 

Loans repayable on demand

166.373

92.546

Total

300.326

189.083

 

Auditors :

 

Name :

Kandwala and Khandwala

Chartered Accountants

Address :

Second Floor, Hrishikesh Building, Vasantbaug, Society Gulbai, Tekri Opposite C K Khadayata Chhatralay, Ahmedabad- 380006, Gujarat, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAEFP0241L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are

owned, or have significant

influence of or are partners

with Key management

personnel and their

relatives :
  • Shree Bhagwati Flour and Foods Private Limited
  • Rushika Trading Company

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised 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

 

 

 

 

4,250,000

Equity Shares

Rs.10/- each

Rs.42.500 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

42.500

42.500

42.500

(b) Reserves & Surplus

111.663

90.903

59.472

(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)

154.163

133.403

101.972

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

133.953

96.537

27.398

(b) Deferred tax liabilities (Net)

19.424

10.550

10.148

(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)

153.377

107.087

37.546

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

190.798

118.994

148.759

(b) Trade payables

16.124

9.884

15.396

(c) Other current liabilities

36.357

19.128

11.733

(d) Short-term provisions

2.001

3.787

0.854

Total Current Liabilities (4)

245.280

151.793

176.742

 

 

 

 

TOTAL

552.820

392.283

316.260

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

262.753

167.364

152.592

(ii) Intangible Assets

0.026

0.026

0.026

(iii) Capital work-in-progress

0.000

0.000

6.608

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

3.691

3.691

2.455

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

13.560

29.919

9.126

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

280.030

201.000

170.807

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

202.475

68.554

37.760

(c) Trade receivables

65.521

47.600

41.000

(d) Cash and cash equivalents

3.491

74.529

65.224

(e) Short-term loans and advances

0.918

0.396

1.009

(f) Other current assets

0.385

0.204

0.460

Total Current Assets

272.790

191.283

145.453

 

 

 

 

TOTAL

552.820

392.283

316.260

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Sales Turnover 

2616.957

2492.170

1892.156

 

Other Income

 NA

 NA

 NA

 

TOTAL (A)

 NA

 NA

 NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL (B)

 NA

 NA

 NA

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

72.803

81.262

57.132

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

20.796

25.465

19.555

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

52.007

55.797

37.577

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

14.872

13.864

9.861

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

37.135

41.933

27.716

 

 

 

 

 

Less

TAX (H)

16.375

10.502

12.502

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

20.760

31.431

15.214

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

89.203

57.772

42.558

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

109.963

89.203

57.772

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.88

7.40

3.58

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

31.401

16.197

9.717

Cash generated from operations

 NA

 NA

 NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.79

1.26

0.80

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

2.78

3.26

3.02

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.76

10.79

9.02

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.31

0.27

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.31

1.74

1.82

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.11

1.26

0.82

 

 

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

42.500

42.500

42.500

Reserves & Surplus

59.472

90.903

111.663

Net worth

101.972

133.403

154.163

 

 

 

 

long-term borrowings

27.398

96.537

133.953

Short term borrowings

148.759

118.994

190.798

Current maturities of long-term debts

9.717

16.197

9.717

Total borrowings

185.874

231.728

334.468

Debt/Equity ratio

1.823

1.737

2.170

 

 

 

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 Turnover 

1892.156

2492.170

2616.957

 

 

31.711

5.007

 

 

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 Turnover 

1892.156

2492.170

2616.957

Profit

15.214

31.431

20.760

 

0.80%

1.26%

0.79%

 

 

 

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

No

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 three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

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

 

Unsecured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Short-term borrowings

 

 

Loans and advances from related parties

24.425

26.448

Total

24.425

26.448

 

OPERATIONAL REVIEW

 

The Company has achieved turnover of Rs. 2616.957 Million during the year under as compared to turnover of Rs. 2492.170 Million during previous year. There is profit before depreciation, financial expenses and tax of Rs. 72.803 (Previous year Rs. 81.262 Million). After charging depreciation of Rs. 14.872 Million (Previous year Rs. 13.864 Million) and financial expenses of Rs. 20.796 Million (Previous year Rs.25.465 Million), there is profit before tax of Rs. 37.135 Million (Previous year Rs. 41.932 Million). There is profit after tax of Rs. 20.760 Million (previous year Rs. 31.430 Million). Profit before depreciation, financial expenses and tax has gone up due to higher utilisation of capacity and profit before tax has been reduced due to General market recession So, Profit before tax has been reduced compared to previous year though Board expect the result for the year under progress is likely to go up.

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10542639

24/12/2014

1,000,000.00

Axis Bank Limited

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA

C40246282

2

10439816

06/06/2013

69,900,000.00

Axis Bank Limited

TRISHUL, 3RD FLOOR, OPP. SAMARTHESWAR TEMPLE,, NEAR LAW GARDEN, ELLISBRIDGE,, AHMEDABAD, Gujarat - 380006, INDIA

B80772080

3

10365748

25/05/2012

50,000,000.00

AXIS BANK LIMITED

"TRISHUL", 3RD FLOOR, OPP. SAMARTHESHAWAR MAHADEV-, -TEMPLE, NEW LAW GARDEN, ELLISBRIDGE,, AHMEDABAD, Gujarat - 380009, INDIA

B43722925

4

10325647

27/09/2013 *

424,400,000.00

Standard Chartered Bank

GROUND FLOOR, ABHIJEET II, MITHAKHALI SIX ROADS, NAVRANGPURA,, AHMEDABAD, Gujarat - 380009, INDIA

B86451879

5

90094500

23/06/2005

65,000,000.00

UTI BANK LTD.

THIRD FLOOR; TRISHUL, OPP. SAMARTHESHWAR TEMPLE; LAW GARDEN; ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA

-

6

90095440

09/03/2015 *

497,000,000.00

Axis Bank Limited

TRISHUL, THIRD FLOOR OPP. SAMATHESHWAR, TEMPLE LAW GARDEN, ELLISBRIDGE., AHMEDABAD, Gujarat - 380009, INDIA

C51217966

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and equipment
  • Factory equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.57

UK Pound

1

Rs.99.67

Euro

1

Rs.70.92

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

JYTK

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--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

 

42

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.