MIRA INFORM REPORT

 

 

Report No. :

348259

Report Date :

05.11.2015

           

IDENTIFICATION DETAILS

 

Name :

MICROMATIC MACHINE TOOLS PRIVATE LIMITED

 

 

Registered Office :

301, Vikash Deep Laxmi Nagar District Centre, Delhi – 110092

Tel. No.:

91-86-40200555

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

17.11.1987

 

 

Com. Reg. No.:

55-029798

 

 

Capital Investment / Paid-up Capital :

Rs. 6.764 Million

 

 

CIN No.:

[Company Identification No.]

U74899DL1987PTC029798

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Trader of Spare parts of CNC Machine and also providing CNC Machine Services.

 

 

No. of Employees :

20 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (52)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 1000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1987 and it is engaged in trading business of machine tools. Its products include computer numerical control turning, computer numerical control milling, grinding and automation machines.

 

For the financial year ended 2014, company has reported marginal growth of 2.57% in its revenue profile and it has maintained decent profit margins at 13.19% during the year under a review.

 

Rating takes into consideration company’s satisfactory financial profile marked by its adequate net worth base along with healthy debt coverage indicators and zero debt balance sheet profile.

 

Rating also takes into account of company’s established track record of business operations and extensive industry experience of promoters in trading business.

 

Trade relations are reported as fair. Payments are reported to be regular and as per commitment.

 

The company can be considered good for normal 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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Nagbhushan

Designation :

Account Department

Contact No.:

91-86-40200555

Date :

04.11.2015

 

 

LOCATIONS

 

Registered Office :

301, Vikash Deep Laxmi Nagar District Centre, Delhi – 110092, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

mmtblr@micromatic.com

Website :

http://www.micromatic.com

 

 

Corporate Office :

No. 240/241, 11th Main Road, Peenya Industrial Area, Bangalore – 560058, Karnataka, India

Tel. No.:

91-86-40200555

Fax No.:

Not Available

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Narendra Kumar Dhand

Designation :

Director

Address :

R5/58, Raj Nagar, Ghaziabad - 201002, Uttar Pradesh, India

Date of Birth/Age :

09.09.1943

Date of Appointment :

25.04.1988

DIN No.:

00379502

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

U74899DL1982PLC042422

MICROMATIC GRINDING TECHNOLOGIES LIMITED

Whole-time director

01/07/2014

31/03/1982

-

Active

NO

2

U74899DL1987PTC029798

MICROMATIC MACHINE TOOLS PRIVATE LTD

Director

25/04/1988

25/04/1988

-

Active

NO

3

U74899DL1990PTC039589

APP-TECH MACHINES PRIVATE LIMITED

Director

21/03/1990

21/03/1990

-

Active

NO

4

U29290MH1973GAP016420

INDIAN MACHINE TOOL MANUFACTURERS ASSOCIATION

Director

20/08/2004

20/08/2004

-

Active

NO

5

U29200DL2008FTC182050

TOYODA MICROMATIC MACHINERY INDIA Private Limited

Director

13/08/2008

13/08/2008

-

Active

NO

 

 

Name :

Shrinivas Govindrao Shirgurkar

Designation :

Director

Address :

Rajkrupa, No. 586, 1st Main, 2nd Stage, 3rd Block Rmv Extension, Bangalore - 560094, Karnataka, India

Date of Birth/Age :

08.04.1948

Date of Appointment :

30.08.1996

DIN No.:

00173944

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

U29199KA1986PLC007816

ACE DESIGNERS LIMITED

Managing director

01/07/2015

25/09/1986

-

Active

NO

2

U02922KA1987PLC008415

AUTO CNC MACHINING LIMITED

Director

11/06/1987

11/06/1987

-

Active

NO

3

U85110KA1994PLC015321

ACE MANUFACTURING SYSTEMS LIMITED

Director

07/03/1994

07/03/1994

-

Active

NO

4

U85110KA1995PLC018544

ACE MULTI AXES SYSTEMS LIMITED

Director

16/08/1995

16/08/1995

-

Active

NO

5

U74899DL1987PTC029798

MICROMATIC MACHINE TOOLS PRIVATE LTD

Director

30/08/1996

30/08/1996

-

Active

NO

6

U34300KA2005PTC037594

PRAGATI TRANSMISSION PRIVATE LIMITED.

Director

03/11/2005

03/11/2005

-

Active

NO

7

L85110KA1980PLC003913

WENDT INDIA LIMITED

Director

17/04/2006

17/04/2006

-

Active

NO

8

U29290MH1973GAP016420

INDIAN MACHINE TOOL MANUFACTURERS ASSOCIATION

Director

29/08/2012

29/08/2012

-

Active

NO

9

U74900KA2012NPL067059

IMTMA Machine Tool Industry Park

Director

06/12/2012

06/12/2012

-

Active

NO

10

U72200KA2013PTC070078

AceMicromatic MANUFACTURING INTELLIGENCE TECHNOLOGIES PRIVATE LIMITED

Director

26/07/2013

26/07/2013

-

Active

NO

 

 

Name :

Benedict Machado

Designation :

Director

Address :

583, 1st Main, 2nd Stage, 3rd Block, Rmv Extension, Bangalore – 560094, Karnataka, India

Date of Birth/Age :

04.12.1948

Date of Appointment :

30.08.1996

DIN No.:

00174074

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

U29199KA1986PLC007816

ACE DESIGNERS LIMITED

Managing director

01/07/2015

25/09/1986

-

Active

NO

2

U02922KA1987PLC008415

AUTO CNC MACHINING LIMITED

Director

11/06/1987

11/06/1987

-

Active

NO

3

U85110KA1994PLC015321

ACE MANUFACTURING SYSTEMS LIMITED

Director

07/03/1994

07/03/1994

-

Active

NO

4

U85110KA1995PLC018544

ACE MULTI AXES SYSTEMS LIMITED

Director

16/08/1995

16/08/1995

-

Active

NO

5

U74899DL1987PTC029798

MICROMATIC MACHINE TOOLS PRIVATE LTD

Director

30/08/1996

30/08/1996

-

Active

NO

6

U34300KA2005PTC037594

PRAGATI TRANSMISSION PRIVATE LIMITED.

Director

03/11/2005

03/11/2005

-

Active

NO

 

 

Name :

Ashok Vishwanath Sathe

Designation :

Director

Address :

No. 252, 15th 'D' Cross, 2nd Phase, 2nd Stage, Mahalakshmipuram, Bangalore - 560086, Karnataka, India

Date of Birth/Age :

17.03.1940

Date of Appointment :

01.02.1988

DIN No.:

00174204

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

U29199KA1986PLC007816

ACE DESIGNERS LIMITED

Whole-time director

01/07/2015

25/09/1986

-

Active

NO

2

U02922KA1987PLC008415

AUTO CNC MACHINING LIMITED

Director

11/06/1987

11/06/1987

-

Active

NO

3

U74899DL1987PTC029798

MICROMATIC MACHINE TOOLS PRIVATE LTD

Director

01/02/1988

01/02/1988

-

Active

NO

4

U85110KA1994PLC015321

ACE MANUFACTURING SYSTEMS LIMITED

Director

07/03/1994

07/03/1994

-

Active

NO

5

U85110KA1995PLC018544

ACE MULTI AXES SYSTEMS LIMITED

Director

16/08/1995

16/08/1995

-

Active

NO

6

U29199KA2001PTC029247

PRAGATI AUTOMATION PRIVATE LIMITED

Director

05/07/2001

05/07/2001

-

Active

NO

7

U22100PN2007PTC130644

UDYAM PRAKASHAN PRIVATE LIMITED

Director

03/09/2007

03/09/2007

-

Active

NO

8

U29253KA2011PTC060244

PRAGATI CONTROL SYSTEMS PRIVATE LIMITED

Director

05/09/2011

05/09/2011

-

Active

NO

 

 

Name :

Parthasarathi Thiruvengadam

Designation :

Director

Address :

Flat No. 201, Yadugiri Nest, Malleswaram Bangalore, 60, 11th M N Road, Cluny Convent, Bangalore, Bangalore - 560003, Karnataka, India

Date of Appointment :

31.03.2015

DIN No.:

00016375

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

U74140MH1995PTC093339

DELOITTE TOUCHE TOHMATSU INDIA PRIVATE LIMITED

Director

21/09/2000

21/09/2000

31/07/2015

Converted to LLP

NO

2

U99999MH1986PTC040260

S.B. BILLIMORIA CONSULTANTS PRIVATE LIMITED

Director

04/06/2002

04/06/2002

16/07/2012

Amalgamated

NO

3

U74120MH2007PTC169532

Deloitte & Touche Consulting India Private Limited

Director

26/09/2008

24/04/2007

16/09/2009

Amalgamated

NO

4

U74899DL1987PTC029798

MICROMATIC MACHINE TOOLS PRIVATE LTD

Director

30/09/2015

31/03/2015

-

Active

NO

5

U34300KA2006PTC038845

SURIN AUTOMOTIVE PRIVATE LIMITED

Additional director

16/04/2015

16/04/2015

-

Active

NO

6

U85110KA1990PLC011089

DTDC Express Limited

Director

29/09/2015

20/04/2015

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Nagbhushan

Designation :

Account Department

 

 

MAJOR SHAREHOLDERS

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

Ace Designers Limited, India

 

155776

Dhand Narendra Kumar

 

10700

Dhand Neelam

 

169600

Shirgurkar S. G.

 

40006

Shirgurkar Bharti

 

40006

Machedo Philomina

 

40006

Machedo Benedict

 

40006

Sathe Padma

 

180300

 

 

 

Total

 

676400

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

Category

Percentage

Bodies corporate

23.00

Directors or relatives of Directors

77.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Spare parts of CNC Machine and also providing CNC Machine Services.

 

 

Products/ Services :
  • CNC Machine
  • CNC Machine Services

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cheque and Credit

 

 

Purchasing :

Cheque and Credit

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

End Users and OEMs

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

20 (Approximately)

 

 

Bankers :

Banker Name

ICICI Bank Limited

Branch Address

Peenya Industrial Estate, Bangalore, Karnataka, 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

 

  • Axis Bank Limited, Peenya Industrial Area, Bangalore, Karnataka, India

 

 

 

Auditors :

 

Name :

B.K. Kapur and Company

Chartered Accountants

Address :

17, Navyug Market, Ghaziabad – 201001, Uttar Pradesh, India

PAN No.:

AAFFP2355L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Related parties without control relationship existing :
  • Ace Designers Limited
  • Pragati Automation Private Limited
  • Ace Manufacturing System Limited
  • Micromatic Grinding Technologies Limited

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

900000

Equity Shares

Rs.10/- each

Rs. 9.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

676400

Equity Shares

Rs.10/- each

Rs. 6.764 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

6.764

6.764

6.764

(b) Reserves & Surplus

644.980

599.348

537.832

(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)

651.744

606.112

544.596

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

31.436

(b) Deferred tax liabilities (Net)

5.012

2.799

1.333

(c) Other long term liabilities

2.592

3.104

2.007

(d) long-term provisions

7.366

9.494

6.040

Total Non-current Liabilities (3)

14.970

15.397

40.816

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

22.363

15.545

11.697

(c) Other current liabilities

48.769

78.681

45.712

(d) Short-term provisions

38.208

41.343

66.835

Total Current Liabilities (4)

109.340

135.569

124.244

 

 

 

 

TOTAL

776.054

757.078

709.656

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

225.134

232.215

238.917

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.168

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

39.772

39.772

23.101

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

4.183

3.574

2.792

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

269.257

275.561

264.810

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

177.419

182.082

165.293

(b) Inventories

42.161

32.404

30.531

(c) Trade receivables

223.532

220.410

211.444

(d) Cash and cash equivalents

18.177

11.817

23.793

(e) Short-term loans and advances

45.399

34.659

13.671

(f) Other current assets

0.109

0.145

0.114

Total Current Assets

506.797

481.517

444.846

 

 

 

 

TOTAL

776.054

757.078

709.656

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

 

31.03.2013

31.03.2012

 

 

 

 

 

 

TOTAL INCOME                      

628.581

644.738

702.405

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL                                    

536.137

525.828

466.067

 

 

 

 

 

 

PROFIT BEFORE TAX

92.444

118.910

236.338

 

 

 

 

 

Less

TAX                                                                 

28.215

33.732

68.651

 

 

 

 

 

 

PROFIT AFTER TAX

64.229

85.178

167.687

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

551.243

492.728

375.209

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

3.000

3.000

3.000

 

Tax on Dividend

18.597

23.662

47.168

 

BALANCE CARRIED TO THE B/S

593.875

551.243

492.728

 

 

 

 

 

 

Earnings Per Share (Rs.)

94.96

125.93

247.91

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

650.000

 

 

 

 

 

Expected Sales (2015-16): Rs. 700.000 Million

 

The above information has been parted by Mr. Nagbhushan (Account Department)

 

 

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

Net cash flow from (used in) operation

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

10.22

13.21

23.87

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

12.56

16.58

34.42

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

0.20

0.43

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.06

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

4.64

3.55

3.58

 

 

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

6.764

6.764

6.764

Reserves & Surplus

537.832

599.348

644.980

Share Application money pending allotment

0.000

0.000

0.000

Net worth

544.596

606.112

651.744

 

 

 

 

long-term borrowings

31.436

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

31.436

0.000

0.000

Debt/Equity ratio

0.058

0.000

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 Turnover

702.405

644.738

628.581

 

 

-8.210

-2.506

 

 

 

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 Turnover

702.405

644.738

628.581

Profit

167.687

85.178

64.229

 

23.87%

13.21%

10.22%

 

 

 

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

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

No

20

Banking Details

Yes

21

Banking facility details

No

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

10524026

25/09/2014

62,000,000.00

Axis Bank Limited

Corporate Banking Branch, Indian Express Building, 
Second Floor, No.1, Queen's Road, Bangalore, Karnataka - 560001,

INDIA

C25837881

2

90043519

31/08/2002

397,260.00

FIAT SUNDARAM FINANCE LTD.

NO. 21; PATTULUS ROAD, CHENNAI,

Tamil Nadu - 600002,

INDIA

-

 

 

* Date of charge modification

 

FIXED ASSETS

 

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. 65.57

UK Pound

1

Rs. 101.13

Euro

1

Rs. 71.80

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

JYO

 

 

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

6

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

52

 

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.