MIRA INFORM REPORT
|
Report No. : |
352130 |
|
Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAYGAON PAPER MILLS LIMITED |
|
|
|
|
Registered
Office : |
C-8, Saroj Apartment, Opposite Holy Spirit Hospital, M C Road, Andheri
(East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-28321370/ 28518651/ 40568100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
10.04.1989 |
|
|
|
|
Com. Reg. No.: |
11-051317 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21010MH1989PLC051317 |
|
|
|
|
IEC No.: |
0392007606 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK11401F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK3249A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Kraft Paper. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 established in the year 1989 and it is engaged in the manufacturing
of kraft paper which finds its application in the packaging industry
especially for making corrugated boxes. For the financial year ended 2014, company has reported 11.17% sales
turnover growth as compared to previous sales turnover and it has maintained
average profitability margins at 2.30% during the year under a review. Rating continue to draw strength from the long track record of the
company in the kraft paper industry coupled with the experienced promoters, stable
demand indicators from end-user industries mainly packaging and diversified
and established dealer network. Rating also takes into consideration company’s above average financial
risk profile marked by its sound networth base and average debt coverage
indicators. However, rating strength is partially offset by its low profit margins
on account of the product mix being dominated by low burst factor (BF) paper
and fragmented nature of the paper industry leading to high competition. Trade relations are reported as 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 |
CARE |
|
Rating |
Long term bank facilities: “BB-” |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
23.05.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
23.05.2014 |
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 DEINED BY
|
Name : |
Mr. Anil Bhambere |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-240-2334696 |
|
Date : |
25.11.2015 |
LOCATIONS
|
Registered Office : |
C-8, Saroj Apartment, Opposite Holy Spirit Hospital, M C Road, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-28321370/ 28518651/ 40568100 |
|
Fax No.: |
91-22-28321377/ 28518645/ 40568154 |
|
E-Mail : |
|
|
Area : |
1700 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Head Office : |
Behind Axis Bank, Adalal Road, Manisha Building, Near Bajaj Hospital,
Aurangabad – 431003, Maharashtra, India |
|
Tel. No.: |
91-240-2334696/ 2334731 |
|
Fax No.: |
91-240-2321855 |
|
E mail: |
|
|
|
|
|
Factory : |
Gala No. 184, Village Kaygaon, Taluka Gangapur, District |
|
Tel. No.: |
91-2433-224530/ 224529 |
DIRECTORS
As on 28.08.2014
|
Name : |
Mr. Omprakash Damodar Rathi |
|
Designation : |
Managing director |
|
Address : |
Plot No. 153, N-3, CIDCO, Jalna Road, Aurangabad – 431003,
Maharashtra, India |
|
Date of Birth/Age : |
11.05.1952 |
|
Date of Appointment : |
10.04.1989 |
|
DIN No.: |
00895316 |
|
|
|
|
Name : |
Mr. Akshay Omprakash Rathi |
|
Designation : |
Director |
|
Address : |
Plot No. 153, N-3, CIDCO, Jalna Road, Aurangabad – 431003,
Maharashtra, India |
|
Date of Birth/Age : |
04.04.1978 |
|
Date of Appointment : |
31.01.2004 |
|
DIN No.: |
00895295 |
|
|
|
|
Name : |
Mr. Hemant Yeshwant Kunte |
|
Designation : |
Director |
|
Address : |
4-Vaishnavi Appr, Plot No. 12, New Shery Nagar, Aurangabad – 431005,
Maharashtra, India |
|
Date of Birth/Age : |
19.12.1958 |
|
Date of Appointment : |
22.10.2003 |
|
DIN No.: |
00895337 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.08.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
Allottees as on 18.09.2014
|
Name of Allottees |
No. of Share
Allotted |
|
Akshay Omprakash Rathi |
171352 |
|
Omprakash Damodar Rathi |
247913 |
|
Chandrakant H. Malpani |
210 |
|
Vandana Mundada |
420 |
|
Vijaydevi Bhansali |
105 |
|
Total |
420000 |
As on 28.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
2.50 |
|
Directors or relatives of Directors |
89.55 |
|
Other top fifty shareholders |
7.95 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of kraft paper. |
|
|
|
|
Products : |
Kraft paper |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by management |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Union Bank of India, Premises No. 3, MTNL Telephone
Exchange Building, Dr. B Ambedkar Road, Near Gandhi Market, Matunga (East),
Mumbai - 400019, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Walter and Associates Chartered Accountants |
|
Address : |
B-6/7, Saroj Apartments, Mahakali Caves Road, Mumbai – 400093,
Maharashtra, India |
|
Tel. No.: |
91-22-40568100 (B) |
|
Fax No.: |
91-22-40568154 |
|
E-Mail : |
|
|
Website : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFA0445K |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises in which key there is a significant influence of Members/ Directors
: |
Hardoli Paper Mills Limited |
CAPITAL STRUCTURE
After 28.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,420,000 |
Equity Shares |
Rs.10/- each |
Rs. 24.200 Million |
|
|
|
|
|
As on 28.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 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 |
20.000 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
94.256 |
75.533 |
57.341 |
|
(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) |
114.256 |
95.533 |
77.341 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
115.797 |
110.790 |
104.965 |
|
(b) Deferred tax liabilities (Net) |
33.770 |
29.071 |
29.315 |
|
(c) Other long term
liabilities |
11.600 |
4.600 |
5.600 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
161.167 |
144.461 |
139.880 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
63.129 |
65.752 |
62.498 |
|
(b) Trade
payables |
51.356 |
46.689 |
48.084 |
|
(c) Other
current liabilities |
37.636 |
36.419 |
25.195 |
|
(d) Short-term
provisions |
1.724 |
1.152 |
1.348 |
|
Total Current
Liabilities (4) |
153.845 |
150.012 |
137.125 |
|
|
|
|
|
|
TOTAL |
429.268 |
390.006 |
354.346 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
228.330 |
216.767 |
188.813 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
6.464 |
0.000 |
2.480 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.845 |
0.845 |
0.845 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.099 |
1.304 |
5.393 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
243.738 |
218.916 |
197.531 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
41.763 |
53.631 |
26.845 |
|
(c) Trade
receivables |
113.937 |
86.780 |
100.957 |
|
(d) Cash
and cash equivalents |
13.527 |
16.075 |
13.303 |
|
(e)
Short-term loans and advances |
13.567 |
12.784 |
12.095 |
|
(f) Other current
assets |
2.736 |
1.820 |
3.615 |
|
Total
Current Assets |
185.530 |
171.090 |
156.815 |
|
|
|
|
|
|
TOTAL |
429.268 |
390.006 |
354.346 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
813.979 |
731.265 |
693.227 |
|
|
|
Other Income |
2.052 |
2.961 |
0.749 |
|
|
|
TOTAL (A) |
816.031 |
734.226 |
693.976 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Traded |
6.047 |
19.973 |
11.310 |
|
|
|
Raw Materials Consumed |
484.071 |
407.263 |
408.229 |
|
|
|
Changes in Inventories of Finished Goods |
(1.691) |
(2.275) |
0.716 |
|
|
|
Employee Benefits Expenses |
16.722 |
13.864 |
13.119 |
|
|
|
Other Expenses |
246.899 |
241.672 |
213.994 |
|
|
|
TOTAL (B) |
752.048 |
680.497 |
647.368 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
63.983 |
53.729 |
46.608 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.129 |
16.408 |
14.445 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.854 |
37.321 |
32.163 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.976 |
13.949 |
14.087 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
29.878 |
23.372 |
18.076 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.155 |
5.180 |
5.625 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
18.723 |
18.192 |
12.451 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
66.234 |
48.042 |
35.591 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
84.957 |
66.234 |
48.042 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
184.459 |
171.519 |
141.411 |
|
|
|
Stores & Spares |
1.387 |
2.163 |
1.427 |
|
|
|
Capital Goods |
16.858 |
4.340 |
0.299 |
|
|
TOTAL IMPORTS |
202.704 |
178.022 |
143.137 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
9.36 |
9.10 |
6.23 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
Maturities of Long Term Debts |
|
|
|
|
-Term Loan |
18.458 |
15.000 |
9.000 |
|
- Deferred Payment Liabilities |
7.932 |
5.956 |
4.529 |
|
- Vehicle Loan |
1.016 |
0.871 |
0.921 |
|
Total |
27.406
|
21.827 |
14.450 |
|
Cash generated from operations |
52.092 |
43.317 |
30.881 |
|
Net cash flows from (used in) operation |
46.387 |
37.661 |
28.150 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.30 |
2.49 |
1.80 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.86 |
7.35 |
6.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.08 |
6.01 |
5.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.24 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.81 |
2.08 |
2.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.14 |
1.14 |
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 |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
57.341 |
75.533 |
94.256 |
|
Net
worth |
77.341 |
95.533 |
114.256 |
|
|
|
|
|
|
long-term borrowings |
104.965 |
110.790 |
115.797 |
|
Short term borrowings |
62.498 |
65.752 |
63.129 |
|
Current maturities of
long-term debts |
14.450 |
21.827 |
27.406 |
|
Total
borrowings |
181.913 |
198.369 |
206.332 |
|
Debt/Equity
ratio |
2.352 |
2.076 |
1.806 |
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 |
693.227 |
731.265 |
813.979 |
|
|
|
5.487 |
11.311 |
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 |
693.227 |
731.265 |
813.979 |
|
Profit |
12.451 |
18.192 |
18.723 |
|
|
1.80% |
2.49% |
2.30% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10567667 |
25/03/2015 |
20,000,000.00 |
The Shamrao Vithal co-operative Bank Limited |
Rajendra Bhavan, Plot No.1, Near LIC Building, Adalat Road,
Aurangabad, Maharashtra - 431001, INDIA |
C52500485 |
|
2 |
10137419 |
11/11/2014 * |
355,200,000.00 |
Union Bank of India |
Premises No. 3, MTNL Telephone Exchange Building,Dr. B. Ambedkar Rd,
Near Gandhi Market, Matunga (East), Mumbai, Maharashtra - 400019, INDIA |
C35470855 |
|
3 |
10140479 |
10/11/2014 * |
355,200,000.00 |
Union Bank of India |
Premises No. 3, MTNL Telephone Exchange Building, Dr. B Ambedkar Rd,
Near Gandhi Market, Matunga (East), Mumbai, Maharashtra - 400019, INDIA |
C35469618 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs. In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred Payment Liabilities (Sales Tax Deferral Scheme under the Sales Tax Incentive Scheme, 1988 and 1992 and the same was payable after the end of Tenth year in five equal annual installments.) |
34.066 |
41.998 |
|
Related Parties - Repayable on demand after 1 April, 2015 |
17.074 |
23.496 |
|
Incorporates Loans -Repayable on demand after 1 April, 2015 |
27.836 |
16.286 |
|
Total |
78.976 |
81.780 |
OPERATIONS
During the year, the company has achieved the production of 33693.932 MTs as against 31646308 MTS in the previous year.
Due to increase in production, the company has achieved a turnover of Rs. 813.979 Million as against the turnover of Rs. 731.265 Million in the last year. Resultantly the net profit increased by 27.84% and posted a net profit of Rs. 29.878 Million as against net profit of Rs. 23.372 Million in the previous year.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
MPCB |
0.300 |
0.333 |
|
MSEDCL |
7.250 |
6.691 |
|
Security Deposit |
1.785 |
0.944 |
|
Jayakwadi Irrigation Division |
0.821 |
0.82 |
|
Margin Money (Pertaining to buyers credit) |
6.000 |
12.190 |
FIXED ASSETS
· Freehold Land
· Factory Buildings
· Building (Other)
· Plant and Machinery
· Electric Installation
· Furniture and Fixture
· Vehicles
· Computer
· Lab Equipments
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.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
43 |
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.