MIRA INFORM REPORT
|
Report No. : |
324581 |
|
Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE DELHI FLOUR MILLS COMPANY LIMITED |
|
|
|
|
Registered
Office : |
8377-8381, Roshanara Road, Delhi-110007 |
|
Tel. No.: |
91-11-23826445 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.05.1916 |
|
|
|
|
Com. Reg. No.: |
55-000035 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1916PLC000035 |
|
|
|
|
IEC No.: |
0588015661 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT6624R |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. (Listed on Delhi Stock Exchange) |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacture and sale of wheat
products |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 860000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having long operational history. However, it is having moderate track record. There has been a drastic increase in borrowings during the financial
year 2013-14. Further, the company possesses moderate capital structure, inadequate
debt-protection measures and average liquidity. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some caution. |
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. Rajiv |
|
Designation : |
Finance department |
|
Contact No.: |
91-11-23826445 |
LOCATIONS
|
Registered Office/ Factory : |
8377-8381, Roshanara Road, Delhi-110007, India |
|
Tel. No.: |
91-11-23826445 |
|
Fax No.: |
91-11-23822409 |
|
E-Mail : |
DIRECTORS
As on 02.08.2014
|
Name : |
Mr. Mohit Jain |
|
Designation : |
Managing director |
|
Address : |
61-B, Friends Colony East, New Delhi-110065, Delhi, India |
|
Date of Birth/Age : |
03.09.1955 |
|
Date of Appointment : |
28.06.1982 |
|
DIN No.: |
00079452 |
|
PAN No.: |
AAAPJ4648K |
|
|
|
|
Name : |
Mr. Brahm Dev Sharma |
|
Designation : |
Director |
|
Address : |
N-4/11, Qutab Enclave, DLF Phase-II, Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
23.01.1943 |
|
Date of Appointment : |
25.01.2007 |
|
DIN No.: |
00081642 |
|
PAN No.: |
ABDPS7133E |
|
|
|
|
Name : |
Mr. Ranjit Bhatia |
|
Designation : |
Director |
|
Address : |
S-96, Panchsheel Park (South), New Delhi-110017, Delhi, India |
|
Date of Birth/Age : |
11.09.1947 |
|
Date of Appointment : |
30.07.2002 |
|
DIN No.: |
00114507 |
|
|
|
|
Name : |
Mr. Sarat Chandra Nanda |
|
Designation : |
Director |
|
Address : |
B-19, Soami Nagar, New Delhi-110017, Delhi, India |
|
Date of Birth/Age : |
04.10.1952 |
|
Date of Appointment : |
29.10.2010 |
|
DIN No.: |
00827193 |
|
|
|
|
Name : |
Mr. Rashad Jain |
|
Designation : |
Whole-time director |
|
Address : |
61-B, Friends Colony East, New Delhi, 110065, Delhi, India |
|
Date of Birth/Age : |
09.08.1985 |
|
Date of Appointment : |
23.05.2009 |
|
DIN No.: |
02644953 |
|
PAN No.: |
AESPJ8121P |
KEY EXECUTIVES
|
Name : |
Rajiv Bhambri |
|
Designation : |
Chief finance officer |
|
Address : |
3, Park View, East Park Road, Karol Bagh, New Delhi-110005, Delhi, India |
|
PAN No.: |
AAHPB8358F |
|
Date of Appointment : |
13.11.2014 |
|
|
|
|
Name : |
Mr. Arjun Sahu |
|
Designation : |
Secretary |
|
Address : |
63-C, Mig Dda Flats, Motia
Khan, New Delhi-110055, Delhi, India |
|
PAN No.: |
ACKPS8278E |
|
Date of Appointment : |
25.04.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.08.2014
SHAREHOLDING FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
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 |
0.84 |
|
Bodies corporate |
64.96 |
|
Directors or relatives of Directors |
23.90 |
|
Other top fifty shareholders |
10.06 |
|
Others |
0.24 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture and sale of wheat
products |
|
|
|
|
Products : |
Wheat products |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
A.K. Gangaher and Company Chartered Accountants |
|
Address : |
401,Kundan Bhawan, Azadpur Commercial Complex |
|
PAN No.: |
AAHPG0711B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
DFM Foods Limited CIN No.: L15311DL1993PLC052624 |
|
|
|
|
Holding company : |
Ravi Mohit Enterprises Private limited CIN No.: U74899DL1981PTC011924 |
CAPITAL STRUCTURE
As on 02.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,900,000 |
Equity Shares |
Rs.10/- each |
Rs.19.000 Million |
|
10,000 |
Preference Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
Total |
|
Rs. 20.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
429,588 |
Equity Shares |
Rs.10/- each |
Rs.4.295
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
4.300 |
4.300 |
4.300 |
|
(b)
Reserves & Surplus |
302.200 |
272.300 |
244.400 |
|
(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) |
306.500 |
276.600 |
248.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
1349.800 |
638.700 |
161.200 |
|
(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 |
4.800 |
3.000 |
2.800 |
|
Total
Non-current Liabilities (3) |
1354.600 |
641.700 |
164.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
367.800 |
560.800 |
449.700 |
|
(b)
Trade payables |
24.800 |
19.300 |
0.900 |
|
(c)
Other current liabilities |
101.800 |
54.200 |
41.100 |
|
(d)
Short-term provisions |
4.700 |
3.000 |
3.000 |
|
Total
Current Liabilities (4) |
499.100 |
637.300 |
494.700 |
|
|
|
|
|
|
TOTAL |
2160.200 |
1555.600 |
907.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
280.300 |
271.100 |
267.200 |
|
(ii)
Intangible Assets |
1.200 |
0.500 |
1.000 |
|
(iii)
Capital work-in-progress |
958.200 |
551.400 |
16.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
37.400 |
37.400 |
37.400 |
|
(c)
Deferred tax assets (net) |
4.000 |
4.300 |
4.400 |
|
(d) Long-term Loan and Advances |
40.200 |
29.400 |
41.500 |
|
(e)
Other Non-current assets |
114.500 |
106.700 |
7.200 |
|
Total
Non-Current Assets |
1435.800 |
1000.800 |
374.700 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
576.100 |
440.400 |
423.900 |
|
(c)
Trade receivables |
28.800 |
30.600 |
11.100 |
|
(d)
Cash and cash equivalents |
1.700 |
8.200 |
3.800 |
|
(e)
Short-term loans and advances |
114.700 |
72.700 |
93.500 |
|
(f)
Other current assets |
3.100 |
2.900 |
0.400 |
|
Total
Current Assets |
724.400 |
554.800 |
532.700 |
|
|
|
|
|
|
TOTAL |
2160.200 |
1555.600 |
907.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2764.100 |
2764.700 |
2339.900 |
|
|
Other Income |
44.100 |
32.200 |
23.000 |
|
|
TOTAL
|
2808.200 |
2796.900 |
2362.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2237.300 |
2315.900 |
1920.800 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(10.300) |
(15.600) |
10.900 |
|
|
Employees benefits expense |
138.300 |
100.900 |
96.000 |
|
|
Other expenses |
263.600 |
233.900 |
183.300 |
|
|
TOTAL
|
2628.900 |
2635.100 |
2211.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
179.300 |
161.800 |
151.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
125.400 |
113.000 |
102.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
53.900 |
48.800 |
49.900 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
11.200 |
9.700 |
12.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
42.700 |
39.100 |
37.600 |
|
|
|
|
|
|
|
Less |
TAX |
9.700 |
8.100 |
8.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
33.000 |
31.000 |
29.200 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
31.900 |
23.900 |
17.700 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
20.000 |
20.000 |
20.000 |
|
|
Dividend |
2.600 |
2.600 |
2.600 |
|
|
Tax on Dividend |
0.400 |
0.400 |
0.400 |
|
|
Total
|
23.000 |
23.000 |
23.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
76.82 |
72.16 |
67.97 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
18.100 |
28.700 |
17.800 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.19 |
1.12 |
1.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.49 |
5.85 |
6.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.68 |
4.06 |
4.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.66 |
4.44 |
2.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
0.87 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4.300 |
4.300 |
4.300 |
|
Reserves & Surplus |
244.400 |
272.300 |
302.200 |
|
Net
worth |
248.700 |
276.600 |
306.500 |
|
|
|
|
|
|
long-term borrowings |
161.200 |
638.700 |
1349.800 |
|
Short term borrowings |
449.700 |
560.800 |
367.800 |
|
Current Maturities of
Long-Term Debts |
17.800 |
28.700 |
18.100 |
|
Total
borrowings |
628.700 |
1228.200 |
1735.700 |
|
Debt/Equity
ratio |
2.528 |
4.440 |
5.663 |
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 |
2339.900 |
2764.700 |
2764.100 |
|
|
|
18.155 |
(0.022) |
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 |
2339.900 |
2764.700 |
2764.100 |
|
Profit |
29.200 |
31.000 |
33.000 |
|
|
1.25% |
1.12% |
1.19% |
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 |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
17] |
Details of sister concerns |
Yes |
|
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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Intercorporate deposits |
400.00 |
0.000 |
|
Public deposits |
50.400 |
28.400 |
|
Deposits from others |
61.500 |
62.500 |
|
Other loans and advances |
1.800 |
3.100 |
|
Short Term
Borrowing |
|
|
|
Intercorporate borrowings |
0.000 |
190.000 |
|
Deposits |
62.200 |
58.700 |
|
Total |
575.900 |
342.700 |
BUSINESS REVIEW
ECONOMIC SCENARIO
The ballooning current account deficit led to a sharp depreciation of the rupee, inflation remained high and economic growth did not seem to improve, resulting in another difficult year for the economy
Government Policy
During the year the Government enacted the Food Security Act which entitles 75% of the rural population and 50% of the urban population to certain quantities of subsidized foodgrains
The implementation of the Act is to be completed by September 2014. It is expected that the Government will use various means including biometrics and its authentication through Adhaar to prevent leakage under the PDS
The reduction / elimination of leakage would result in an improved operating environment for the milling industry Wheat availability wheat production fell during 2013. Consequently Government procurement also fell from 38 m tons in 2012 to 25 m tons in 2013. Market availability was reasonable in the first half of the year but declined thereafter. The Government intervened by making wheat supplies available under its OMSS for the rest of the year
BUSINESS DEVELOPMENTS
The Directors continued to make efforts to develop the business further continued customer servicing and marketing inputs helped strengthen the product differentiation vis-à-vis our competitors. As a consequence of our inventory and wheat supply chain, we did not have to make any wheat purchases from the Government. This enabled us to maintain the high quality of our products along with stable prices for our customers
The Government has increased the MSP for wheat for 2014 from Rs. 1350 to Rs. 1400 per quintal. Higher buying by private trade during the current year is likely to keep the Government procurement at about 25 m tons which is similar to that of the previous year
OUTLOOK
Continued efforts in developing the business should strengthen it going forward
RELOCATION PROJECT
As reported last year, the reworking of the scope and design of the project had increased the project cost to Rs. 1720.000 Million. The Company’s bankers had been approached for additional finance to which they agreed and additional project finance of Rs. 571.000 Million was sanctioned the work on the project is continuing satisfactorily and it is hoped that the commercial production would commence during this year a sum of Rs. 1083.800 Million had been spent as on 31st March 2014
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10552174 |
30/10/2014 |
274,000,000.00 |
Punjab and Sind Bank |
Roshanara Road, Delhi, Delhi - 110007, INDIA |
C45126315 |
|
2 |
10517506 |
13/08/2014 |
28,500,000.00 |
Karnataka Bank Limited |
Corporate Finance Branch, K-13, Chaudhary Building, Connaught Circus,,
New Delhi, Delhi - 110001, INDIA |
C18847897 |
|
3 |
10517494 |
04/08/2014 |
70,000,000.00 |
Karnataka Bank Limited |
Corporate Finance Branch, K-13, Chaudhary Building, Connaught Circus,,
New Delhi, Delhi - 110001, INDIA |
C18840348 |
|
4 |
10517498 |
04/08/2014 |
550,000,000.00 |
Karnataka Bank Limited |
Corporate Finance Branch, K-13, Chaudhary Building, Connaught Circus,
New Delhi, Delhi - 110001, INDIA |
C18844118 |
|
5 |
10509957 |
11/04/2014 |
268,500,000.00 |
Karnataka Bank Limited |
Corporate Finance Branch, K-13, Chaudhary Building, Connaught Circus,,
New Delhi, Delhi - 110001, INDIA |
C11991445 |
|
6 |
10430701 |
16/04/2013 |
100,000,000.00 |
PUNJAB and SIND BANK |
ROSHANARA ROAD, DELHI, Delhi - 110007, INDIA |
B76952571 |
|
7 |
10339657 |
10/01/2012 |
350,000,000.00 |
THE KARNATAKA BANK LIMITED |
KARNATAKA BANK LIMITED,REGD. AND HEAD OFFICE, P.B |
B33899022 |
|
8 |
10328201 |
16/11/2011 |
321,500,000.00 |
Punjab and Sind Bank |
Roshanara Road, Delhi, Delhi - 110007, INDIA |
B29490497 |
|
9 |
10066284 |
04/08/2014 * |
25,000,000.00 |
Karnataka Bank Limited |
Corporate Finance Branch, K-13, Chaudhary Building, Connaught Circus,,
New Delhi, Delhi - 110001, INDIA |
C18846972 |
|
10 |
10066290 |
04/08/2014 * |
1,000,000.00 |
Karnataka Bank Limited |
Corporate Finance Branch, K-13, Chaudhary Building, Connaught Circus,,
New Delhi, Delhi - 110001, INDIA |
C18845784 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and 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,
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.63.62 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
33 |
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.