MIRA INFORM REPORT
|
Report No. : |
349129 |
|
Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAYDEEP COTTON FIBRES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-805, The Imperial Heights, Opposite Big Bazar, 150 Feet Ring Road, Rajkot
– 360005, Gujarat |
|
Tel. No.: |
91-281-2580025 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.09.1997 |
|
|
|
|
Com. Reg. No.: |
04-032921 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 245.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1997PTC032921 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ5374P |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cotton. |
|
|
|
|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limits : |
USD 1575000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1947 having
satisfactory track. Profit margin of the company is low. However, networth position of the
company is satisfactory. General financial position of the company is normal
and acceptable for business dealings. Further, the rating also into consideration favorable gap between
trade payables and trader receivables. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct and as per commitment. In view long track record and acceptable financial base, 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.
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 |
ICRA |
|
Rating |
Cash Credit Limit : BBB- |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
March, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Bank Guarantee : A3 |
|
Rating Explanation |
Moderate degree of safety and carry higher credit risk. |
|
Date |
March, 2015 |
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. Vipul |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-2827-252177 |
LOCATIONS
|
Registered Office : |
C-805, The Imperial Heights, Opposite Big Bazar, 150 Feet Ring Road,
Rajkot – 360005, Gujarat, India |
|
Tel. No.: |
91-281-2580025 |
|
Fax No.: |
91-281-2580090 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
8-B, National Highway, Near 66, K V Sub Station, Shpar, Gujarat,
India |
|
Tel. No.: |
91-2827-252177 |
|
Fax No.: |
91-2827-253490 |
|
|
|
|
Corporate Office : |
306-308, Ajanta Commercial Complex, Gondal Road, Rajkot – 360002,
Gujarat, India |
|
Tel. No.: |
91-281-2460386/2460387 |
|
Fax No.: |
91-281-2460388 |
DIRECTORS
AS ON: 30.09.2014
|
Name : |
Mr. Arvindkumar Parsotambhai Patel |
|
Designation : |
Director |
|
Address : |
801, Megh Malhar Apartment, Shree Colony, Opposite Mahatma Gandhi School,
City – Rajkot - 360001, Gujarat, India |
|
Date of Birth/Age : |
26.09.1966 |
|
Qualification : |
HSC |
|
Date of Appointment : |
01.09.1997 |
|
PAN No.: |
AGWPP3458M |
|
DIN No.: |
00554370 |
|
|
|
|
Name : |
Mr. Alpeshbhai Vallabhbhai Patel |
|
Designation : |
Director |
|
Address : |
Flat No.702, Piramid Tower, Bansi Park, Amin Road, Rajkot – 360001,
Gujarat, India |
|
Date of Birth/Age : |
05.06.1976 |
|
Qualification : |
HSC |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
AFGPP9978M |
|
DIN No.: |
01356260 |
|
|
|
|
Name : |
Mr. Vallabhbhai Valjibhai Pan |
|
Designation : |
Director |
|
Address : |
Flat No.703, Piramid Tower, Bansi Park, Amin Road, Rajkot – 360001,
Gujarat, India |
|
Date of Appointment : |
17.10.1997 |
|
PAN No.: |
ACXPP9371N |
|
DIN No.: |
00554649 |
KEY EXECUTIVES
|
Name : |
Mr. Vipul |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2014
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
|
|
|
|
Mansukh Parsottambhai Patel (As Karta of Mansukh P. Patel HUF) |
|
2081620 |
|
Arvind Parsottambhai Patel (As Karta of Arvind P. Patel HUF) |
|
1550800 |
|
Parsottambhai Valjibhai Patel |
|
4200000 |
|
Sanjay Vallabhbhai Patel |
|
1800000 |
|
Alpeshbhai Vallabhbhai Patel |
|
2600000 |
|
Vallabhbhai Valjibhai Pan |
|
1600000 |
|
Mansukhbhai Parsottambhai Patel |
|
2318380 |
|
Arvindkumar Parsotambhai Patel |
|
3049200 |
|
Shobhanaben Mansukhbhai Patel |
|
800000 |
|
|
|
|
|
Total |
|
20000000 |
|
|
||
|
Names of Shareholders |
|
No. of Shares (Preference) |
|
|
|
|
|
Mansukh Parsottambhai Patel (As Karta of Mansukh P. Patel HUF) |
|
1000000 |
|
Arvind Parsottambhai Patel (As Karta of Arvind P. Patel HUF) |
|
800000 |
|
Sanjay Vallabhbhai Patel |
|
350000 |
|
Alpeshbhai Vallabhbhai Patel |
|
400000 |
|
Vallabhbhai Valjibhai Pan |
|
600000 |
|
Ilaben Arvindkumar Patel |
|
750000 |
|
Chirag Mansukhbhai Patel |
|
600000 |
|
|
|
|
|
Total |
|
4500000 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2014
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
65 (Approximately) |
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Bankers : |
·
State Bank of India, Commercial Branch, "Noble House", Near Jalaram Petrol Pump,
Kalawad Road, Rajkot – 360001, Gujarat, India
|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
H. Jamnadas and Company Chartered Accountants |
|
Address : |
50 – Janta,
Society, Opposite LIC Building, Mahila College Chowk, Tagore Road, Rajkot –
360001, India |
|
PAN No.: |
AABFH2320P |
|
|
|
|
Wholly owned
Subsidiary : |
PAN Valley Resources Limited, (Hong Kong) |
|
|
|
|
Associate : |
|
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Million |
|
4500000 |
Preference Shares |
Rs.10/- each |
Rs. 45.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.245.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Million |
|
4500000 |
Preference Shares |
Rs.10/- each |
Rs.45.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.245.000
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 |
245.000 |
245.000 |
245.000 |
|
(b) Reserves & Surplus |
306.322 |
254.081 |
191.107 |
|
(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) |
551.322 |
499.081 |
436.107 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
27.032 |
29.052 |
16.981 |
|
(b) Deferred tax liabilities (Net) |
28.223 |
0.263 |
0.406 |
|
(c) Other long term
liabilities |
4.035 |
110.349 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
59.290 |
139.664 |
17.387 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1522.247 |
1282.090 |
498.559 |
|
(b) Trade payables |
225.121 |
138.684 |
162.260 |
|
(c) Other current
liabilities |
39.012 |
43.323 |
76.729 |
|
(d) Short-term
provisions |
18.315 |
35.341 |
58.082 |
|
Total Current
Liabilities (4) |
1804.695 |
1499.438 |
795.630 |
|
|
|
|
|
|
TOTAL |
2415.307 |
2138.183 |
1249.124 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
292.189 |
171.225 |
37.004 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
42.386 |
11.665 |
5.870 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.080 |
0.080 |
1.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.240 |
15.930 |
3.744 |
|
(e) Other
Non-current assets |
3.914 |
7.449 |
5.505 |
|
Total Non-Current
Assets |
349.809 |
206.349 |
53.123 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
970.833 |
726.227 |
586.940 |
|
(c) Trade receivables |
685.448 |
904.367 |
476.087 |
|
(d) Cash and cash
equivalents |
159.444 |
52.741 |
49.818 |
|
(e) Short-term loans
and advances |
46.577 |
121.779 |
0.000 |
|
(f) Other current
assets |
203.196 |
126.720 |
83.156 |
|
Total Current Assets |
2065.498 |
1931.834 |
1196.001 |
|
|
|
|
|
|
TOTAL |
2415.307 |
2138.183 |
1249.124 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
9046.036 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
7649.296 |
7899.582 |
9046.036 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
7437.716 |
7697.862 |
8821.117 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
211.580 |
201.720 |
224.919 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
122.819 |
98.773 |
129.791 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
88.761 |
102.947 |
95.128 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.110 |
6.040 |
5.802 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
82.651 |
96.907 |
89.326 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.410 |
33.933 |
31.127 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
52.241 |
62.974 |
58.199 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
99963220 USD $ |
4626.777 |
7449.891 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.61 |
0.26 |
2.91 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.498 |
1.333 |
1.486 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
505.925 |
164.178 |
187.948 |
|
Net cash flows from (used in) operating activities |
477.475 |
128.878 |
138.936 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
0.68 |
0.80 |
0.64 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
2.77 |
2.55 |
2.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.48 |
4.56 |
7.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.19 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.81 |
2.63 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.29 |
1.50 |
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 |
245.000 |
245.000 |
245.000 |
|
Reserves & Surplus |
191.107 |
254.081 |
306.322 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
436.107 |
499.081 |
551.322 |
|
|
|
|
|
|
long-term borrowings |
16.981 |
29.052 |
27.032 |
|
Short term borrowings |
498.559 |
1282.090 |
1522.247 |
|
Current Maturities of
Long Term Debt |
1.486 |
1.333 |
1.498 |
|
Total borrowings |
517.026 |
1312.475 |
1550.777 |
|
Debt/Equity ratio |
1.186 |
2.630 |
2.813 |
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 |
9046.036 |
7899.582 |
7649.296 |
|
|
|
(12.674) |
(3.168) |
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 |
9046.036 |
7899.582 |
7649.296 |
|
Profit |
58.199 |
62.974 |
52.241 |
|
|
0.64% |
0.80% |
0.68% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
NOTE:
The Registered Office of the company has been shifted from 306/308, Ajanta Complex, Gondal Road, Rajkot – 360002, Gujarat, India to the present address w.e.f. 01.08.2012.
OPERATION AND
PROSPECTS
During current year of operations, the company has achieved Revenue from Operation and Other Income of Rs.7649.296 Million during the previous year. The Company has earned profit of Rs.211.580 Million before depreciation and Interest. The Company has earned Profit of Rs.82.651 Million after providing for depreciation and interest.
This contunied progress of the company is the result of the Directors’ vision, perseverance and consistent efforts. The Company is resolute to keep this growth story unrelenting in the coming years and as a part of it the company has expanded its wings of operations at international levels. The Company has a Wholly owned Subsidiary named PAN Valley Resources Limited at Hong Kong.
Moreover, the company has also diversified its business operations and entered into the business of generation and transmission of Power through solar energy. The company has set up a Seperate Division named PAN Power, being a proprietary division of the company. The Installation, Erection and commissioning of Solar Power project for 4 Megawatts (out of total 6 Megawatts) has been completed as on 31st March, 2014. The Company has also completed trial / test run process of Generation of Power in F.Y.2013-14. The Power project will be in full
operation during the F.Y.2014-15. The prospects of the Company’s business are bright and positive.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs. In Million) |
31.03.2013 (Rs. In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from directors |
8.649 |
0.000 |
|
Deposits from shareholders |
0.000 |
0.000 |
|
Deposits from others |
16.140 |
28.817 |
|
Other loans and advance |
0.000 |
0.000 |
|
|
|
|
|
Total |
24.789 |
28.817 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10569208 |
27/04/2015 |
200,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
5TH FLOOR, SARKAR
II, ELLISBRIDGE CORNER, ASHRAM |
C53535894 |
|
2 |
10140963 |
03/03/2012 * |
1,686,600,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
"NOBLE HOUSE", NEAR JALARAM P |
B36469369 |
|
3 |
10158903 |
03/03/2012 * |
1,686,600,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
"NOBLE HOUSE", NEAR JALARAM P |
B36470763 |
|
4 |
90109737 |
23/01/1998 |
1,900,000.00 |
DENA BANK |
PARA BAZAR BRANCH,
PARA BAZAR, RAJKOT, GUJARAT - |
- |
|
5 |
90113139 |
20/05/1998 * |
8,100,000.00 |
DENA BANK |
PARA BAZAR BRANCH,
PARA BAZAR, RAJKOT, GUJARAT - |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· 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 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.65.79 |
|
|
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
Div |
|
|
|
|
Report Prepared
by : |
snt |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
5 |
|
--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 |
|
45 |
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.