MIRA INFORM REPORT
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Report No. : |
321165 |
|
Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
REGE IMAGING AND CINE FILMS PRIVATE LIMITED |
|
|
|
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Registered Office
: |
GF-6, Deep Shikha, Rajendra Place, New Delhi - 110008 |
|
Tel. No.: |
91-11-41538407 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
02.01.1992 |
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|
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Com. Reg. No.: |
55-046990 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.380 Million |
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CIN No.: [Company Identification
No.] |
U74899DL1992PTC046990 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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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
: |
Trader of Medical Equipment. |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 82800 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. In the year 2013-14, there is decrease in profit margin as compared to
last year 2012-13. The reason is for slight decrease in its sales turnover. But the company networth is stable in growth. Trade relations are
fair. Business is active. The company can be considered for business dealings with its suitable
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
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. Santosh |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-11-41538407 |
|
Date : |
07.05.2015 |
LOCATIONS
|
Registered Office : |
GF-6, Deep Shikha, Rajendra Place, New Delhi – 110008, India |
|
Tel. No.: |
91-11-41538407/ 25854803/ 25746707 |
|
Fax No.: |
91-11-25746707 |
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E-Mail : |
|
|
Website : |
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|
Area : |
385 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
B5, Deep Shiksha Building, No. 8, Rajendra Place, New Delhi – 110008,
India |
|
Location : |
Owned |
DIRECTORS
AS ON 09.09.2014
|
Name : |
Bhajan Singh Suri |
|
Designation : |
Director |
|
Address : |
31/25, GF East Patel Nagar, New Delhi – 110008, India |
|
Date of Birth/Age : |
08.06.1932 |
|
Date of Appointment : |
02.01.1992 |
|
DIN No.: |
00055845 |
|
|
|
|
Name : |
Gurpreet Singh |
|
Designation : |
Director |
|
Address : |
31/25, GF East Patel Nagar, New Delhi – 110008, India |
|
Date of Birth/Age : |
31.12.1986 |
|
Date of Appointment : |
28.01.2005 |
|
DIN No.: |
00055912 |
|
|
|
|
Name : |
Gurmeet Kaur |
|
Designation : |
Director |
|
Address : |
31/25, GF East Patel Nagar, New Delhi – 110008, India |
|
Date of Birth/Age : |
05.09.1964 |
|
Date of Appointment : |
10.06.1992 |
|
DIN No.: |
00055950 |
KEY EXECUTIVES
|
Name : |
Mr. Santosh |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Bhajan Singh Suri |
32770 |
86.30 |
|
Gurmeet Kaur |
5200 |
13.70 |
|
|
|
|
|
Total |
37970 |
100.00 |
AS ON 09.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Medical Equipment. |
|
|
|
|
Products/ Services : |
a. X-Ray Consumable / digital x
ray machine ·
Kodak X-Ray Films and X-Ray Film Processing
Chemicals ·
Kodak Dry View Films ·
ESKAY RANGE of Microbar Brand of Products ·
Contrast media for C.T & MRI b. Radiation Protection Items ·
Kiran LEAD Protection Coat ·
Kiran's Protective Items ·
Kiran's Premium Range of Lead Free
Protection Apparel c. X-Ray Accessories ·
Rege X-Ray View Boxes-conventional and Slim
led (Light Emmiting Diode) view boxes ·
Kiran X-Ray Cassettes & Screens ·
Rege Radiation protection Apparel Hangers ·
Rege X-Ray Film Drying Hangers & Chest
Stands ·
Rege Radiation Protection Lead Screen, Lead
Doors, Lead Sheet etc. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
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Purchasing : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
15 (Approximately) |
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Bankers : |
· HDFC Bank Limited New Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S Bahl and Company Chartered Accountants |
|
Address : |
LGF-69-70, Vijaya Building, 17 Barakhamba Road, New Delhi – 110001,
India |
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Tel. No.: |
91-11-23321536 |
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Fax No.: |
91-11-23350662 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAIFS7562B |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37,970 |
Equity Shares |
Rs. 10/- each |
Rs. 0.380 Million |
|
|
|
|
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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 |
0.380 |
0.380 |
0.380 |
|
(b) Reserves & Surplus |
28.608 |
24.882 |
19.097 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
28.988 |
25.262 |
19.477 |
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|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.035 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.035 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.034 |
1.359 |
|
(b)
Trade payables |
7.497 |
6.632 |
3.181 |
|
(c)
Other current liabilities |
0.954 |
0.481 |
0.385 |
|
(d)
Short-term provisions |
0.000 |
0.088 |
0.000 |
|
Total
Current Liabilities (4) |
8.451 |
7.235 |
4.925 |
|
|
|
|
|
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TOTAL |
37.439 |
32.497 |
24.437 |
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2.595 |
2.038 |
2.165 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.127 |
0.103 |
0.094 |
|
(d) Long-term Loan and
Advances |
0.771 |
0.250 |
0.271 |
|
(e)
Other Non-current assets |
10.872 |
3.928 |
8.187 |
|
Total
Non-Current Assets |
14.365 |
6.319 |
10.717 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6.931 |
4.841 |
5.817 |
|
(c)
Trade receivables |
4.123 |
6.844 |
4.896 |
|
(d)
Cash and cash equivalents |
0.797 |
1.011 |
0.507 |
|
(e)
Short-term loans and advances |
1.093 |
7.254 |
1.718 |
|
(f)
Other current assets |
10.130 |
6.228 |
0.782 |
|
Total
Current Assets |
23.074 |
26.178 |
13.720 |
|
|
|
|
|
|
TOTAL |
37.439 |
32.497 |
24.437 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
77.864 |
85.895 |
52.111 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
71.937 |
77.113 |
47.133 |
|
|
|
|
|
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.927 |
8.782 |
4.978 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.507 |
0.308 |
0.310 |
|
|
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|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.420 |
8.474 |
4.668 |
|
|
|
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|
|
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|
Less |
TAX |
1.694 |
2.689 |
1.458 |
|
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|
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|
|
|
|
|
|
PROFIT AFTER TAX |
3.726 |
5.785 |
3.210 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
98.13 |
152.36 |
84.54 |
|
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 |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.53 |
26.16 |
19.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.34 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73 |
3.62 |
2.79 |
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 |
0.380 |
0.380 |
0.380 |
|
Reserves & Surplus |
19.097 |
24.882 |
28.608 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
19.477 |
25.262 |
28.988 |
|
|
|
|
|
|
Long-term borrowings |
0.035 |
0.000 |
0.000 |
|
Short term borrowings |
1.359 |
0.034 |
0.000 |
|
Total
borrowings |
1.394 |
0.034 |
0.000 |
|
Debt/Equity ratio |
0.072 |
0.001 |
0.000 |
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) |
|
Total Income |
52.111 |
85.895 |
77.864 |
|
|
|
64.831 |
(9.350) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
52.111 |
85.895 |
77.864 |
|
Profit |
3.210 |
5.785 |
3.726 |
|
|
6.16% |
6.73% |
4.79% |
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10002085 |
23/03/2007 * |
3,000,000.00 |
STATE BANK OF
PATIALA |
PUSA ROAD,
OPPOSITE TELEPHONE EXCHANGE, NEW DELHI, DELHI - 110005, INDIA |
A00309641 |
* Date of charge modification
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 402, Deep
Shikha, 8 Bajindra Place, New Delhi - 110008, India to the present address
w.e.f. 22.05.2008.
BACKGROUND
Subject is a private limited company and incorporated on January 2, 1992
under the provision of the Indian Companies Act, 1956. The company is mainly in
the business of trading of X-Ray Chemicals, X-Ray Films, X-Ray Cassettes and
Screens, X-Ray View Boxes and other X-Ray accessories. The accounts are for the
year commencing from April 1, 2013 to March 31, 2014.
OPERATING AND
PROSPECTS
During the year company’s turnover decreased by 10% to Rs. 76.655
Million as compared to previous year turnover of Rs. 84.858 Million. The
profitability of the company for the year has decreased by 36% to Rs. 3.726
Million as compared to last year of Rs. 5.785 Million owing to decrease in
turnover. The Directors are optimistic about the future growth of the company.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
|
|
|
|
* Bank Guarantee |
1.968 |
1.000 |
|
* State Bank of Patiala has issued bank guarantee on behalf of the company.
Against this contingent liability the company has Fixed Deposit amounting to
Rs. 1.972 Million (Previous year Rs. 1.142 Million). |
||
FIXED ASSETS:
· Building
· Office Equipment
· Computers
· Furniture and Fixture
· Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its
beneficial owners, controlling shareholders or senior officers as terrorist or
terrorist organization or whom notice had been received that all financial
transactions involving their assets have been blocked or convicted, found
guilty or against whom a judgement or order had been entered in a proceedings
for violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.57 |
|
|
1 |
Rs. 99.67 |
|
Euro |
1 |
Rs. 70.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
MAN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.