MIRA INFORM REPORT
|
Report No. : |
350697 |
|
Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRINCEWARE INTERNATIONAL PRIVATE LMITED (w.e.f. 09.07.2008) |
|
|
|
|
Formerly Known
As : |
PRINCE PLASTICS INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Omkar Esquare, 7th Floor, Opposite Sion - Chunabhatti
Signal, Eastern Express Highway, Sion (East), Mumbai – 400022, Maharashtra |
|
Tel. No.: |
91-22-24082288 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.11.1992 |
|
|
|
|
Com. Reg. No.: |
11-069561 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.450
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1992PTC069561 |
|
|
|
|
IEC No.: |
0391136348 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP07023C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP3346H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Plastic Housewares, Kitchenware etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1992 and it is engaged in the
manufacturing, exporting and importing of plastics housewares products. For the financial year ended 2014, company has reported 13.52% sales turnover
growth as compared to previous sales turnover and it has maintained average
profitability margins at 2.12% during the year under a review. Ratings favorably factor in the established position of the company as
a plastic products manufacturer and exporter supported by its diversified
product mix and favorable domestic demand for plastic products. The company possesses healthy operating efficiencies supported by its
satisfactory financial profile along with sound networth base and modest debt
coverage indicators. Trade relations are fair. Payment terms are reported to be usually
correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
ICRA |
|
Rating |
Term Loan = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limit = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
February 2014 |
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
Management Non Co-operative (91-22-24082288)
LOCATIONS
|
Registered Office/ Corporate Office : |
Omkar Esquare, 7th Floor, Opposite Sion - Chunabhatti Signal,
Eastern Express Highway, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Tel. No.: |
91-22-24082288 / 24084422 / 24017711 |
|
Fax No.: |
91-22-24072244 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Factory : |
24/4, Kachigam Road, Village Ringanwada, Nani, Daman - 396210, Daman
and Diu, India |
|
Tel. No.: |
91-260-2242041 / 2242042 |
|
Fax No.: |
91-260-2242042 / 2241913 |
|
Location: |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rakesh Kishore Chheda |
|
Designation : |
Director |
|
Address : |
801/ 802, Omkar Co-Operative Housing Society, 511/B, Matunga Estate, R.P.
Masani Road, Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
17.03.1968 |
|
Date of Appointment : |
16.11.1992 |
|
PAN No.: |
AAAPC5779J |
|
DIN No.: |
00019209 |
|
|
|
|
Name : |
Ms. Neena R Chheda |
|
Designation : |
Director |
|
Address : |
801/ 802, Omkar Co-Operative Housing Society, 511/B, Matunga Estate,
R.P. Masani Road, Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1971 |
|
Date of Appointment : |
03.10.2011 |
|
PAN No.: |
AEZPC6766J |
|
DIN No.: |
03636735 |
|
|
|
|
Name : |
Mr. Nathalal Samji Dudhagara |
|
Designation : |
Director |
|
Address : |
3, Nilmani Navroji Lane, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
|
Date of Birth/Age : |
15.08.1944 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
00089612 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Mhatre |
|
Designation : |
Senior Manager Account and Financial |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kishore Shamji Chheda |
|
23700 |
|
Rakesh Kishore Chheda |
|
1023150 |
|
Rakesh Kishore Chheda HUF |
|
213200 |
|
Nina Rajkesh Chheda |
|
92250 |
|
Divyansh Rakesh Chheda |
|
213200 |
|
Dhvani Rakesh Chheda |
|
94800 |
|
Bhavesh Kishore Chheda |
|
184500 |
|
Prince Plastics India Private Limited, India |
|
100 |
|
Prism Design N Tooling Technology Private Limited, India |
|
100 |
|
|
|
|
|
Total |
|
1845000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Other top fifty (50) shareholders |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Plastic Housewares, Kitchenware etc. |
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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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|
||||
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Imports : |
Not Divulged |
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|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Tel. No.: 91-22-22611954
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsaini Chambers, 212, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management personnel and their
relatives: |
|
|
|
|
|
Subsidiary company: |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Million |
|
2500000 |
Preference Shares |
Rs.10/- each |
Rs.25.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.50.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1845000 |
Equity Shares |
Rs.10/- each |
Rs.18.450 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 |
18.450 |
18.450 |
18.450 |
|
(b) Reserves & Surplus |
665.943 |
606.355 |
547.904 |
|
(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) |
684.393 |
624.805 |
566.354 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
468.550 |
432.308 |
329.417 |
|
(b) Deferred tax liabilities (Net) |
28.527 |
43.844 |
50.917 |
|
(c) Other long term
liabilities |
23.741 |
32.469 |
0.000 |
|
(d) long-term
provisions |
13.889 |
10.158 |
31.601 |
|
Total Non-current
Liabilities (3) |
534.707 |
518.779 |
411.935 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
705.603 |
672.133 |
770.856 |
|
(b) Trade
payables |
433.870 |
198.151 |
201.730 |
|
(c) Other
current liabilities |
184.706 |
411.652 |
98.992 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
22.368 |
|
Total Current
Liabilities (4) |
1324.179 |
1281.936 |
1093.946 |
|
|
|
|
|
|
TOTAL |
2543.279 |
2425.520 |
2072.235 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
667.487 |
592.478 |
643.577 |
|
(ii) Intangible
Assets |
57.087 |
1.660 |
0.150 |
|
(iii)
Capital work-in-progress |
22.545 |
86.883 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
134.803 |
134.803 |
134.686 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.168 |
13.593 |
2.657 |
|
(e) Other
Non-current assets |
20.868 |
178.007 |
205.284 |
|
Total Non-Current
Assets |
43.736 |
59.290 |
14.084 |
|
|
962.694 |
1066.714 |
1000.438 |
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
447.840 |
421.120 |
292.735 |
|
(d) Cash
and cash equivalents |
678.419 |
590.270 |
528.964 |
|
(e) Short-term
loans and advances |
69.931 |
36.088 |
197.359 |
|
(f) Other
current assets |
384.395 |
311.328 |
52.739 |
|
Total
Current Assets |
0.000 |
0.000 |
0.000 |
|
|
1580.585 |
1358.806 |
1071.797 |
|
TOTAL |
|
|
|
|
|
2543.279 |
2425.520 |
2072.235 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2806.414 |
2489.265 |
2167.164 |
|
|
|
|
Other Income |
31.970 |
11.640 |
14.185 |
|
|
|
|
TOTAL |
2838.384 |
2500.905 |
2181.349 |
|
|
|
|
|
|
|
||
|
Less |
TOTAL EXPENSES |
2771.308 |
2417.487 |
2050.669 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
67.076 |
83.418 |
130.680 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
7.488 |
19.717 |
31.447 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
59.588 |
63.701 |
99.233 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
317.827 |
254.126 |
178.972 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
|
|
|
|
|
Proposed
Final Dividend |
0.000 |
0.000 |
24.079 |
|
|
|
|
Tax on Proposed Dividend |
0.000 |
0.000 |
|
|
|
|
BALANCE CARRIED
TO THE B/S |
377.415 |
317.827 |
254.126 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
32.30 |
34.53 |
53.78 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
121.606 |
110.746 |
71.166 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
265.253 |
17.309 |
199.428 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
2.12 |
2.56 |
4.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
8.81 |
10.62 |
15.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.13 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.89 |
1.94 |
2.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.00 |
0.00 |
0.00 |
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 |
18.450 |
18.450 |
18.450 |
|
Reserves & Surplus |
547.904 |
606.355 |
665.943 |
|
Net
worth |
566.354 |
624.805 |
684.393 |
|
|
|
|
|
|
long-term borrowings |
329.417 |
432.308 |
468.550 |
|
Short term borrowings |
770.856 |
672.133 |
705.603 |
|
Current Maturities of Long term debt |
71.166 |
110.746 |
121.606 |
|
Total
borrowings |
1171.439 |
1215.187 |
1295.759 |
|
Debt/Equity
ratio |
2.068 |
1.945 |
1.893 |
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 |
2167.164 |
2489.265 |
2806.414 |
|
|
|
14.863 |
12.741 |
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
|
2167.164 |
2489.265 |
2806.414 |
|
Profit |
99.233 |
63.701 |
59.588 |
|
|
4.58% |
2.56% |
2.12% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
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 |
YEAR IN RETROSPECT: -
During the year the turnover of the company has jumped from Rs. 2489.265 Million to Rs.2806.414 Million mainly due to penetration in Local Business. Also during the year, the Company has successful had a foothold into the business of trading in Luggage. The PAT of the company have reduced from Rs. 83.418 Million to Rs. 67.076 Million on account of loss in Foreign Exchange fluctuations. Correspondingly, the Net results were subdued from Rs.67.301 Million to Rs.59.588 Million and hence were not as expected.
BUSINESS:-
The company has successfully made a mark into trading of luggage and have opened its own retail stores so as to be able to reach the customer directly. Company is also under process of expanding the capacity during the year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
211.904 |
34.865 |
|
Loans and advances from others |
35.105 |
0.000 |
|
Loans and advances from others |
0.000 |
147.132 |
|
|
|
|
|
Total |
247.009 |
181.997 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10507335 |
18/06/2014 |
40,000,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE BRANCH, BANK OF INDIA BLDG, MEZZANINE FLOOR, 70-80, M. G. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C10073500 |
|
2 |
10500335 |
18/09/2014 * |
57,500,000.00 |
EXPORT IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C38544979 |
|
3 |
10443388 |
19/03/2014 * |
593,300,000.00 |
BANK OF INDIA |
BANK OF INDIA, BOI BUILDING , MEZZANINE FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C03124815 |
|
4 |
10448828 |
24/07/2013 |
60,000,000.00 |
INDUSIND BANK LTD. |
COMMERCIAL BANKING
GROUP, INDUSIND HOUSE,, 425, B |
B84908102 |
|
5 |
10439261 |
19/03/2014 * |
30,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA |
C00886010 |
|
6 |
10374105 |
25/07/2012 |
20,000,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE BRANCH, BANK OF INDIA BLDG.,, MEZZANINE FLOOR, 70-80 , MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B57096646 |
|
7 |
10343950 |
13/08/2013 * |
90,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B85235927 |
|
8 |
10343356 |
16/08/2013 * |
349,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B85863850 |
|
9 |
10352459 |
09/03/2012 |
110,000,000.00 |
INDUSIND BANK LTD. |
INDUSIND HOUSE.425,, DADASAHEB BHADKAMKAR MARG, OPERA HOUSE,, MUMBAI, MAHARASHTRA - 400004, INDIA |
B38488250 |
|
10 |
10245613 |
02/02/2011 * |
88,800,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B05408646 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Vehicles
· Office equipment
· Computer Equipments
Intangible assets
· Goodwill
· Computer software
· Prototypes
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
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 |
|
48 |
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.