MIRA INFORM REPORT
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Report No. : |
349661 |
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Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRANSWORLD FURTICHEM PRIVATE LIMITED |
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Registered
Office : |
Office No. 1801, The Affaires, Plot No. 9, Sector 17, Sanpada, Navi
Mumbai – 400705, Maharashtra |
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Tel. No.: |
91-22-27813100 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.09.2004 |
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Com. Reg. No.: |
11-148832 |
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Capital
Investment / Paid-up Capital : |
Rs. 78.605 Million |
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CIN No.: [Company Identification
No.] |
U51497MH2004PTC148832 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT13278G |
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PAN No.: [Permanent Account No.] |
AACCT0972D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers, Import, Export and resale of fertilizers,
Chemicals and Agrochem. |
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|
No. of Employees
: |
Information declined by the management |
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 Limit : |
USD 4800000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2004. It is preliminary engaged
in manufacturing of compound NPK granulated fertilizers and other products
like potassium sulphate, sulphuric acid, oleum etc. The company also
undertake trading of agrochemicals and fertilizers. In the year 2006, a Dubai
based fertilizer company, “Blue Deebaj Chemicals LLC” has acquired a stake in
TFPL. The day-to-day operations of the company are managed by Mr. Dilip
Gadia. It has satisfactory track record. The company possesses a decent. Profile marked by adequate networth
base along with fair liquidity and good profitability. Trade relations are fair. Business is active. Payment are reported to
be usually correct. The company can be considered business dealing 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating= BB (Suspended) |
|
Rating Explanation |
Having inadequate credit quality and carry
high credit risk. |
|
Date |
27.04.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating= A4+ (Suspended) |
|
Rating Explanation |
Having minimal degree of safety and carry
very high credit risk. |
|
Date |
27.04.2015 |
Reason for suspension: The suspension of ratings
is on account of non-cooperation by TFPL with CRISIL’s efforts to undertake a
review of the ratings outstanding.
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 DENIED BY
|
Name : |
Mr. Amit Chalke |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-8380022169 |
|
Date : |
13.11.2015 |
LOCATIONS
|
Registered Office : |
Office No. 1801, The Affaires, Plot No. 9, Sector 17, Sanpada, Navi
Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-27813100 |
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Mobile No.: |
91-8380022169 (Mr. Amit) |
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Fax No.: |
91-22-27815207 |
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E-Mail : |
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Website : |
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Unit 1 : |
Plot No. 353 and 367, Sector - 4, Kandla Special Economic Zone, Gandhidham, Kutch – 370230, Gujarat, India |
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Unit 2 : |
Plot No. 39/1 and 39/2, MIDC Industrial Area, Dhatav, Roha, Raiga – 402109, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Dilip Kumar Sundarlal Gadia |
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Designation : |
Director |
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Address : |
236, Ashok Nagar Road, No. 16, Udaipur – 313703, Rajasthan, India |
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Date of Birth/Age : |
08.04.1956 |
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Date of Appointment : |
01.12.2005 |
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PAN No.: |
AAQPG7419M |
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DIN No.: |
00484431 |
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Other Directorship:
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Name : |
Mr. Ajit Singh Rathore |
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Designation : |
Director |
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Address : |
F/202, Bhawani Apartment, New Sama Road, Vadodara – 390008, Gujarat,
India |
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Date of Birth/Age : |
01.04.1976 |
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Date of Appointment : |
20.11.2006 |
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DIN No.: |
01084114 |
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Name : |
Bhakta Bandhu Mohanty |
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Designation : |
Additional Director |
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Address : |
2-J-18, Prabhat Nagar,Sector-5, Hiran Magri, Udaipur - 313001, Rajasthan, India |
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Date of Appointment : |
22.05.2014 |
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DIN No.: |
00760834 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Amit Chalke |
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Dilip Kumar Sundarlal Gadia |
5000 |
0.06 |
|
Ajit Singh Rathore |
103750 |
1.32 |
|
Abdul Gani Sarfaraz Yusuf Dhanani |
274327 |
3.49 |
|
Blue Deebaj Chemicals LLC, UAE |
3841652 |
48.87 |
|
Nasreeny Dhanani |
629440 |
8.01 |
|
Sana Y Dhanani |
805691 |
10.25 |
|
Sana Hospitality Services Private Limited, India |
2200641 |
28.00 |
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|
|
|
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Total |
7860501 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
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] |
48.87 |
|
Bodies corporate |
28.00 |
|
Directors or relatives of Directors |
23.13 |
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|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Import, Export and resale of fertilizers,
Chemicals and Agrochem. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Sundaram Seshan and Associates Chartered Accountants |
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Address : |
305, Vardhaman, Chambers, Sector-17, Vashi, Navi Mumbai – 400705, Maharashtra, India |
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PAN No.: |
ABPFS0747L |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associate Companies
: |
· Blue Deebaj Chemicals LLC · Blue Deebaj FZCO · Sana Hospitality Services Private Limited · Trans Agro India Private Limited · Neon Engineering and Mineral Company · Aakar Engineers |
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Subsidiary Company
(100% Subsidiary) : |
Creative Free Trade Warehousing Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Million |
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|
|
|
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7860501 |
Equity Shares |
Rs.10/- each |
Rs.78.605
Million |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
78.605 |
78.605 |
65.616 |
|
(b) Reserves & Surplus |
1602.671 |
1391.393 |
1003.983 |
|
(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) |
1681.276 |
1469.998 |
1069.599 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.132 |
43.766 |
149.400 |
|
(b) Deferred tax liabilities (Net) |
32.926 |
21.296 |
7.391 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
9.845 |
8.842 |
0.000 |
|
Total Non-current
Liabilities (3) |
42.903 |
73.904 |
156.791 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
490.251 |
332.853 |
363.962 |
|
(b) Trade
payables |
804.741 |
1203.049 |
1479.386 |
|
(c) Other
current liabilities |
529.735 |
115.617 |
125.566 |
|
(d) Short-term
provisions |
67.481 |
20.616 |
34.293 |
|
Total Current
Liabilities (4) |
1892.208 |
1672.135 |
2003.207 |
|
|
|
|
|
|
TOTAL |
3616.387 |
3216.037 |
3229.597 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
866.361 |
876.853 |
823.128 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
41.028 |
45.953 |
61.316 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
77.399 |
77.399 |
57.399 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
58.550 |
53.384 |
51.621 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1043.338 |
1053.589 |
993.464 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
578.330 |
950.941 |
979.959 |
|
(c) Trade
receivables |
906.505 |
718.221 |
1064.162 |
|
(d) Cash
and cash equivalents |
191.004 |
115.755 |
81.483 |
|
(e)
Short-term loans and advances |
334.718 |
354.171 |
97.652 |
|
(f) Other
current assets |
562.492 |
23.360 |
12.877 |
|
Total
Current Assets |
2573.049 |
2162.448 |
2236.133 |
|
|
|
|
|
|
TOTAL |
3616.387 |
3216.037 |
3229.597 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
3884.507 |
4526.520 |
2292.666 |
|
|
|
|
Other Income |
32.893 |
39.212 |
11.588 |
|
|
|
|
TOTAL (A) |
3917.400 |
4565.732 |
2304.254 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL (B) |
3615.740 |
4236.226 |
2130.336 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
301.660 |
329.506 |
173.918 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
27.473 |
62.984 |
48.416 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
274.187 |
266.522 |
125.502 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
49.106 |
45.948 |
39.906 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
225.081 |
220.574 |
85.596 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
13.803 |
22.974 |
20.654 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
211.278 |
197.600 |
64.942 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
911.858 |
764.738 |
699.796 |
||
|
|
|
|
|
|
||
|
Less |
PRIOR PERIOD
TAXES |
0.000 |
50.480 |
0.000 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
1123.136 |
911.858 |
764.738 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Exports |
2205.356 |
2662.554 |
1768.441 |
|
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
1146.456 |
1192.224 |
1677.069 |
|
|
|
|
Traded Goods |
1080.639 |
1610.705 |
276.040 |
|
|
|
TOTAL IMPORTS |
2227.095 |
2802.929 |
1953.109 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
26.88 |
-- |
-- |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
87.500 |
87.500 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
110.230 |
228.868 |
(81.265) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
5.44 |
4.37 |
2.83 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.77 |
7.28 |
7.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
6.43 |
7.13 |
2.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.15 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.29 |
0.32 |
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.29 |
1.12 |
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 |
65.616 |
78.605 |
78.605 |
|
Reserves & Surplus |
1003.983 |
1391.393 |
1602.671 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1069.599 |
1469.998 |
1681.276 |
|
|
|
|
|
|
long-term borrowings |
149.400 |
43.766 |
0.132 |
|
Short term borrowings |
363.962 |
332.853 |
490.251 |
|
Current Maturities of Long term debt |
87.500 |
87.500 |
0.000 |
|
Total
borrowings |
600.862 |
464.119 |
490.383 |
|
Debt/Equity
ratio |
0.562 |
0.316 |
0.292 |
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 |
2292.666 |
4526.520 |
3884.507 |
|
|
|
97.435 |
(14.183) |
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
|
2292.666 |
4526.520 |
3884.507 |
|
Profit |
64.942 |
197.600 |
211.278 |
|
|
2.83% |
4.37% |
5.44% |
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 |
Yes |
|
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 |
CORPORATE INFORMATION
Subject is a private company incorporated under the provisions of Companies Act, 1956 on 27th September, 2004 having registered office in Navi Mumbai. Subject was incorporated with main object to carry on the business of Manufacturers, Import, Export and resale of fertilizers, Chemicals and Agrochem.
MANAGEMENT DISCUSSION AND ANALYSIS
During the year, the profit (before tax) of the company is Rs. 225.081 million as compared to the previous year of Rs. 220.574 million overall resulting into an increase in profit percentage from 4.83% to 5.79%. The Directors envisage structured growth plan for subject and for that major capital expenditure are planned in the next two years to increase the overall installed production capacities for the manufactured products. The directors are continuously looking for more avenues for future growth and expansion of the market base of the company.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Short Term Borrowings |
|
|
|
Rupee term loans from banks |
32.331 |
0.086 |
|
|
|
|
|
Total |
32.331 |
0.086 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10579941 |
06/05/2015 |
350,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW, GARDEN ELLIS BRIDGE AHMEDABAD, AHMEDABAD, GUJARAT - 380006, INDIA |
C58921321 |
|
2 |
10536073 |
17/09/2014 |
1,150,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, NGN VAIDYA MARG, NEAR HORNIMAN CIRLCE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C36654606 |
|
3 |
10524152 |
12/09/2014 |
1,150,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, NGN VAIDYA MARG, NEAR HORNIMAN CIRLCE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C26168393 |
|
4 |
10519720 |
05/07/2014 |
1,150,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, NGN VAIDYA MARG, NEAR HORNIMAN CIRLCE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C20272423 |
|
5 |
10493393 |
25/03/2014 |
500,000,000.00 |
IDBI BANK LIMITED |
PLOT NO. C-7, G BLOCK, BKC, OPP. TO NSE BLDG, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
C04146759 |
|
6 |
10195615 |
31/03/2010 * |
1,150,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, NGN VAIDYA MARG,, NEAR HORNIMAN CIRCLE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A83639575 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No 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.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.