MIRA INFORM REPORT
|
Report No. : |
348444 |
|
Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
D.N.H. SPINNERS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
601-603, Business Classic, Chincholi Bunder Road, Malad (West), Mumbai
– 400064, Maharashtra |
|
Tel. No.: |
91-22-28819990 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
15.09.2010 |
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Com. Reg. No.: |
11-207686 |
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Capital
Investment / Paid-up Capital : |
Rs.91.183 Million |
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CIN No.: [Company Identification
No.] |
U17120MH2010PTC207686 |
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IEC No.: |
0303008130 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCD5709B |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of polyester textured yarn and dyed yarn, semi-dull raw yarns, polyester yarns. |
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|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2010 having
satisfactory track. Subject is engaged in manufacturing, exporting and importing of polyester textured yarn, semi-dull raw yarns, polyester yarn. Available financial indicates sound financial risk profile marked by healthy networth base and fair profit margin of the company. Further, the rating also takes into consideration favorable gap between trade payables and trade receivables. Moreover, this rating strength is partially offset by increased in the borrowings of the company during FY 2014. Trade relations are reported as fair. Business is active. Payments terms are reported as slow but correct. The company can be considered normal for 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.
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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Jitendra Sharma |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-28819990 |
|
Date : |
04.11.2015 |
LOCATIONS
|
Registered Office : |
601-603, Business Classic, Chincholi Bunder Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-28819990 / 28443020 / 30963900 |
|
Fax No.: |
91-22-28800770 / 30963933 |
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E-Mail : |
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|
Website : |
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|
Location: |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
Survey No. 171/1/1/4/1, 196/2 and 195, Village –
Surangi, |
|
Tel. No.: |
91-260-3207600 |
|
|
|
|
Surat Office : |
502 / 503, J. K. Tower, Near Sub-Jail, Ring Road, Surat – 395002, Gujarat, India |
|
Tel. No.: |
91-261-2635528 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Dineshkumar Dulichand Jain |
|
Designation : |
Managing director |
|
Address : |
1401/A, Tulsi Tower, Mahatma Gandhi Road, Goregaon (West), Mumbai - 400062, Maharashtra, India |
|
Date of Appointment : |
15.09.2010 |
|
PAN No.: |
AAAPJ8900C |
|
DIN No.: |
00161233 |
|
|
|
|
Name : |
Mr. Ashok Kishinchand Khemani |
|
Designation : |
Director |
|
Address : |
32- ELCID, 13-Ridge Road, Malbarhill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
AABPK2508L |
|
Date of Appointment : |
15.09.2010 |
|
DIN No.: |
00053623 |
|
|
|
|
Name : |
Mr. Amitkumar Girdharilal Mandhana |
|
Designation : |
Director |
|
Address : |
502, Casablanca, M. G. Road, Opposite Shaan Cinema, Vile Parle (East), Mumbai - 400057, Maharashtra, India |
|
Date of Appointment : |
16.09.2010 |
|
PAN No.: |
AEVPM5851L |
|
DIN No.: |
00161106 |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Sharma |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Rajesh Kumar Modi |
|
Designation : |
Secretary |
|
Address : |
A/302, Shiv Sagar Apartment, 90 Feet Road, Thakur Complex, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
|
|
PAN No.: |
AAGPM8402N |
|
Date of Appointment : |
01.09.2013 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
SHAREHOLDERS DETAILS FILE ATTACH
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
1.06 |
|
Directors or relatives of directors |
98.94 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of polyester textured yarn and dyed yarn, semi-dull raw yarns, polyester yarns. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Yarn |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturer |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Harish Agarwal and Associates Chartered Accountants |
|
Address : |
41 First Floor, Pancharatna, Opposite Railway Station, Bhayander (East), Bhayandar -401105, Maharashtra, India |
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PAN No.: |
AACPA1377Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have significant influence of or are
partners with Key management
personnel and their relatives : |
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Others related
parties : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,250,000 |
Equity Shares |
Rs.10/- each |
Rs.52.500 Million |
|
6,500,000 |
Preference Shares |
Rs.10/- each |
Rs.65.000 Million |
|
|
Total |
|
Rs.117.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,700,340 |
Equity Shares |
Rs.10/- each |
Rs.47.003 Million |
|
4,418,000 |
Preference Shares |
Rs.10/- each |
Rs.44.180 Million |
|
|
Total |
|
Rs.91.183
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 |
91.183 |
47.003 |
47.003 |
|
(b) Reserves &
Surplus |
744.816 |
413.975 |
328.033 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
66.150 |
63.350 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
902.149 |
524.328 |
375.036 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2169.814 |
908.922 |
810.839 |
|
(b) Deferred tax
liabilities (Net) |
71.863 |
23.596 |
17.769 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
33.103 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2274.780 |
932.518 |
828.608 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
568.661 |
454.858 |
209.247 |
|
(b) Trade payables |
394.692 |
183.487 |
163.721 |
|
(c) Other current
liabilities |
333.252 |
142.426 |
136.967 |
|
(d) Short-term provisions |
0.000 |
54.937 |
34.546 |
|
Total Current Liabilities
(4) |
1296.605 |
835.708 |
544.481 |
|
|
|
|
|
|
TOTAL |
4473.534 |
2292.554 |
1748.125 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3002.732 |
905.830 |
986.095 |
|
(ii) Intangible Assets |
0.593 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.497 |
260.273 |
12.727 |
|
(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 |
3003.822 |
1166.103 |
998.822 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
619.658 |
379.137 |
294.034 |
|
(c) Trade receivables |
449.836 |
326.545 |
242.193 |
|
(d) Cash and cash
equivalents |
31.225 |
108.350 |
35.880 |
|
(e) Short-term loans and
advances |
368.993 |
312.419 |
177.196 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1469.712 |
1126.451 |
749.303 |
|
|
|
|
|
|
TOTAL |
4473.534 |
2292.554 |
1748.125 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4765.123 |
3988.239 |
3085.504 |
|
|
Other Income |
6.953 |
0.999 |
1.686 |
|
|
TOTAL |
4772.076 |
3989.238 |
3087.190 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
4361.187 |
3626.656 |
2801.062 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
410.889 |
362.582 |
286.128 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
126.901 |
118.122 |
81.494 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
283.988 |
244.460 |
204.634 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
122.006 |
114.797 |
92.882 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
161.982 |
129.663 |
111.752 |
|
|
|
|
|
|
|
Less |
TAX |
52.041 |
43.721 |
38.722 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
109.941 |
85.942 |
73.030 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
246.575 |
160.633 |
87.603 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
356.516 |
246.575 |
160.633 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
12.940 |
1012.549 |
647.091 |
|
|
TOTAL EARNINGS |
12.940 |
1012.549 |
647.091 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
12.06 |
18.28 |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
202.775 |
98.978 |
86.780 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
324.160 |
129.664 |
NA |
|
Net cash flows from (used in) operating activities |
324.160 |
129.664 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.31 |
2.15 |
2.37 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.62 |
9.09 |
9.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.62 |
6.38 |
6.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.25 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.26 |
2.79 |
2.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.35 |
1.38 |
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 |
47.003 |
47.003 |
91.183 |
|
Reserves & Surplus |
328.033 |
413.975 |
744.816 |
|
Share Application money
pending allotment |
0.000 |
63.350 |
66.150 |
|
Net worth |
375.036 |
524.328 |
902.149 |
|
|
|
|
|
|
long-term borrowings |
810.839 |
908.922 |
2169.814 |
|
Short term borrowings |
209.247 |
454.858 |
568.661 |
|
Total borrowings |
1106.866 |
1462.758 |
2941.250 |
|
Debt/Equity ratio |
2.951 |
2.790 |
3.260 |
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 |
3085.504 |
3988.239 |
4765.123 |
|
|
|
29.257 |
19.479 |
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 |
3085.504 |
3988.239 |
4765.123 |
|
Profit |
73.030 |
85.942 |
109.941 |
|
|
2.37% |
2.15% |
2.31% |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
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
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Intercorporate deposits |
175.975 |
105.942 |
|
Loans and advances from directors |
92.713 |
100.247 |
|
Loans and advances from others |
0.000 |
3.547 |
|
Total |
268.688 |
209.736 |
BUSINESS OPERATIONS
The company’s performance was good during the financial year 2013-2014. The Company’s total income for the financial year ended 31st March 2014 was Rs.4772.076 Million. The Operating profit (Profit Before Depreciation, Interest and Taxes) is Rs.410.889 Million. The provision for taxation (including deferred tax and Earlier Year’s Tax) Rs. 48.267 Million. The net profit for the year is Rs.109.941 Million.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10598276 |
19/09/2015 |
5,037,500,000.00 |
UNION BANK OF INDIA AS SECURITY TRUSTEE |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
C67958686 |
|
2 |
10587069 |
13/06/2015 |
1,700,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLE, LAW G |
C62188131 |
|
3 |
10561248 |
18/03/2015 |
450,000,000.00 |
UNION BANK OF INDIA |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
C50009158 |
|
4 |
10561249 |
18/03/2015 |
400,000,000.00 |
UNION BANK OF INDIA |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
C50009356 |
|
5 |
10561251 |
18/03/2015 |
200,000,000.00 |
UNION BANK OF INDIA |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
C50009547 |
|
6 |
10480144 |
13/02/2014 |
980,000,000.00 |
UNION BANK OF INDIA |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
B97416135 |
|
7 |
10468715 |
02/12/2013 |
34,500,000.00 |
UNION BANK OF INDIA |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
B92941988 |
|
8 |
10468719 |
02/12/2013 |
22,500,000.00 |
UNION BANK OF INDIA |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
B92942515 |
|
9 |
10468721 |
02/12/2013 |
200,000,000.00 |
UNION BANK OF INDIA |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
B92943323 |
|
10 |
10468722 |
02/12/2013 |
450,000,000.00 |
UNION BANK OF INDIA |
VEER NARIMAN ROAD BRANCH, 84, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
B92944446 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- office equipment
- computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.57 |
|
|
1 |
Rs.101.13 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.