MIRA INFORM REPORT
|
Report No. : |
350389 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
KUSUM HEALTHCARE
PRIVATE LIMITED (w.e.f. 22.12.2004) |
|
|
|
|
Formerly Known
As : |
K. B. FINVEST AND REALESTATES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-158 A, Okhla Industrial Area, Phase- I, New Delhi – 110020 |
|
Tel. No.: |
91-11-40527575 / 41005147 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
12.03.1997 |
|
|
|
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Com. Reg. No.: |
55-085780 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.79.905 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65929DL1997PTC085780 |
|
|
|
|
IEC No.: |
0505032872 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELK0745C |
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|
|
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PAN No.: [Permanent Account No.] |
AABCK7043B |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of pharmaceutical products. |
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|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6160000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. It
was incorporated in the year 1997 and is engaged in manufacturing of
pharmaceuticals products. As per financial of the year 2015, the company has reported decline in
its revenue profile by 6% over the previous year which further led to dip in
net profitability of the company. However, rating takes into consideration company’s strong financial
profile with healthy networth base, comfortable liquidity position along with
zero debt balance sheet profile of the company. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of established track record of the promoters, the company can
be considered 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 |
Long term bank
facilities = BBB (Withdrawn) |
|
Rating Explanation |
Moderate degree of
safety and moderate credit risk. |
|
Date |
January 19, 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
|
Name : |
Mr. Malotra |
|
Designation : |
Finance Department |
|
Contact No.: |
91-11-40527575 |
|
Date : |
20.11.2015 |
LOCATIONS
|
Registered Office : |
D-158 A, Okhla Industrial Area, Phase- I, New Delhi – 110020, India |
|
Tel. No.: |
91-11-40527575 / 41005147 |
|
Fax No.: |
91-11-23550714 / 40527575 |
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E-Mail : |
|
|
Website : |
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|
|
|
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Corporate Office : |
2E/22, Jhanddewalan Extension, New Delhi – 110055, India |
|
Tel. No.: |
91-11-23678130/ 31 |
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Fax No.: |
91-11-23550714 |
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|
|
|
Factory : |
Plot No. SP 289 (A), RIICO Industrial Area, Chopanki, Bhiwadi, Alwar (District),
Rajasthan, India |
|
Tel. No.: |
91-1493-516560/ 61 |
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Fax No.: |
91-1493-516562 |
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|
|
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Branch Office: |
Located at
|
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Sanjeev Gupta |
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|
Designation : |
Managing Director |
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|
Address : |
B-4/117, Safdarjung Enclave, Delhi - 110029, India |
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|
Date of Birth/Age : |
08.10.1967 |
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Date of Appointment : |
30.04.2014 |
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PAN No.: |
ABLPG4307Q |
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DIN No.: |
00837248 |
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Name : |
Mr. Badri Prasad Gupta |
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Designation : |
Director |
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Address : |
Bu-102, Pitam Pura, Delhi - 110034, India |
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Date of Birth/Age : |
17.10.1938 |
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Date of Appointment : |
30.03.2012 |
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PAN No.: |
AAWPG7278E |
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DIN No.: |
00837192 |
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||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Pramod Madhav Sapre |
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|
Designation : |
Director |
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|
Address : |
401, Vaishali Apartment, 15/21 Janki Kutir, Juhu, Mumbai - 400049, Maharashtra, India |
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Date of Birth/Age : |
08.07.1938 |
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Date of Appointment : |
11.11.2011 |
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DIN No.: |
01972457 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Sachin Sharma |
|
Designation : |
Company Secretary |
|
Address : |
Vill-Muradgram Pur-Purshi, Muradnagar - 201206, Uttar Pradesh, India |
|
Date of Birth/Age : |
03.12.1986 |
|
Date of Appointment : |
26.05.2014 |
|
PAN No.: |
DBFPS7501R |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sanjeev Gupta |
|
7887500 |
|
Kusum Rani Gupta |
|
1000 |
|
Badri Prasad Gupta |
|
1000 |
|
Seema Gupta |
|
1000 |
|
Nirupma Gupta |
|
100000 |
|
Total |
|
7990500 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of pharmaceutical products. |
|
|
|
|
Products : |
Pharmaceutical Products |
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|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Pharmaceutical Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Singapore |
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Terms : |
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Selling : |
L/C and Credit (60 Days) |
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Purchasing : |
L/C and Credit (60 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
OEMs
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No. of Employees : |
600 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
ASPN and Company Chartered Accountants |
|
Address : |
A-1/11, 2nd Floor, Rohini, Sector – 8, Delhi, India |
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PAN No.: |
AACFK3713C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have significant influence of or are
partners with key management personnel and their relatives : |
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CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7990500 |
Equity Shares |
Rs.10/- each |
Rs.79.905
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
79.905 |
79.905 |
79.905 |
|
(b) Reserves &
Surplus |
2077.760 |
1958.888 |
1474.356 |
|
(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) |
2157.665 |
2038.793 |
1554.261 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
2.277 |
7.896 |
3.401 |
|
(c) Other long term
liabilities |
8.243 |
0.000 |
0.000 |
|
(d) long-term provisions |
12.819 |
9.280 |
6.018 |
|
Total Non-current
Liabilities (3) |
23.339 |
17.176 |
9.419 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
5.000 |
0.548 |
|
(b) Trade payables |
136.138 |
141.412 |
111.295 |
|
(c) Other current
liabilities |
30.213 |
12.747 |
18.120 |
|
(d) Short-term provisions |
53.547 |
4.516 |
22.079 |
|
Total Current Liabilities
(4) |
219.898 |
163.675 |
152.042 |
|
|
|
|
|
|
TOTAL |
2400.902 |
2219.644 |
1715.722 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
352.197 |
357.306 |
258.994 |
|
(ii) Intangible Assets |
11.824 |
13.016 |
9.901 |
|
(iii) Capital
work-in-progress |
386.583 |
29.880 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
120.140 |
116.041 |
42.198 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
870.744 |
516.243 |
311.093 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
156.901 |
143.389 |
91.950 |
|
(c) Trade receivables |
1176.198 |
1397.848 |
1195.793 |
|
(d) Cash and cash equivalents |
91.884 |
108.055 |
38.723 |
|
(e) Short-term loans and
advances |
105.175 |
54.109 |
78.163 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1530.158 |
1703.401 |
1404.629 |
|
|
|
|
|
|
TOTAL |
2400.902 |
2219.644 |
1715.722 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Gross Income |
1658.990 |
1783.336 |
1414.208 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
243.928 |
716.838 |
443.237 |
|
|
|
|
|
|
|
Less |
TAX |
72.248 |
239.843 |
144.147 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
171.680 |
476.995 |
299.090 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1936.228 |
1451.696 |
1192.093 |
|
|
|
|
|
|
|
Add |
Previous year expenses
rebuilt in CWIP |
0.000 |
7.537 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
0.000 |
0.000 |
22.660 |
|
|
Dividend |
39.953 |
0.000 |
14.383 |
|
|
Tax on Dividend |
8.133 |
0.000 |
2.444 |
|
|
Total |
48.086 |
0.000 |
39.487 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
2059.822 |
1936.228 |
1451.696 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1623.638 |
95.228 |
1388.332 |
|
|
TOTAL EARNINGS |
1623.638 |
95.228 |
1388.332 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
21.48 |
59.69 |
37.43 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.300 |
0.600 |
2.858 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
487.695 |
431.251 |
243.875 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/ Gross Income) |
(%) |
10.35 |
26.75 |
21.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.11 |
32.74 |
25.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.35 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.96 |
10.41 |
9.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
79.905 |
79.905 |
79.905 |
|
Reserves & Surplus |
1474.356 |
1958.888 |
2077.760 |
|
Net worth |
1554.261 |
2038.793 |
2157.665 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.548 |
5.000 |
0.000 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.600 |
0.300 |
|
Total borrowings |
0.548 |
5.600 |
0.300 |
|
Debt/Equity ratio |
0.000 |
0.003 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Income |
1414.208 |
1783.336 |
1658.990 |
|
|
|
26.101 |
(6.973) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Income |
1414.208 |
1783.336 |
1658.990 |
|
Profit |
299.090 |
476.995 |
171.680 |
|
|
21.15% |
26.75% |
10.35% |
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
The registered address has been shifted from the 21/4, Bhagat Singh
Marg, New Delhi – 110001, India to the present address w.e.f. 18.05.2012.
OPERATION AND STATE
OF AFFAIRS OF THE COMPANY PERFORMANCE AND OPERATIONS
The Company’s gross revenues from operations were Rs. 1658.990 Million for the year ended March 31, 2015 as compared to Rs. 1783.336 Million for the previous year. The Company has made Net Profit of Rs. 171.680 Million for the year as compared to Rs. 476.995 Million for the previous year. Their Top line and Bottom line got impacted due to political instability and economic downfall in currency of our major market Ukraine during year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from directors |
0.000 |
5.000 |
|
Total |
0.000 |
5.000 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
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 |
|
51 |
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.