MIRA INFORM REPORT
|
Report No. : |
345031 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VD GLOBAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
HW-5012-13, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-43629999 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
27.03.2014 |
|
|
|
|
Com. Reg. No.: |
11-255083 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 50.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36993MH2014PTC255083 |
|
|
|
|
IEC No.: |
0388050632 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV21462A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECV7949N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Cut and Polished Diamond. |
|
|
|
|
No. of Employees
: |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was erstwhile started as a partnership concern named as
“Vallabhbhai Dhanjibhai and Company” in the year 1984. Subsequently, in the year
April 2014 the said concern was completely converted into private limited
company. For FY 15, the company has achieved decent sales turnover marked by
satisfactory profit margin of 3.5%. It possesses adequate networth base
marked by decent cash equivalents and there is favourable gap between trade
payables and receivables. Trade relations are fair. Business is active. Payments are usually
correct. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
05.05.2015 |
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. Ashwin |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-43629999 |
|
Date : |
13.10.2015 |
LOCATIONS
|
Registered Office : |
HW-5012-13, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra ,
India |
|
Tel. No.: |
91-22-43629999 |
|
Fax No.: |
91-22-43629990 |
|
E-Mail : |
|
|
Website: |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory 1 : |
Unit No. 11/5 to 11/10, Kohinoor Industrial Estate, Varachha
Road,
Surat – 395006, Gujarat, India |
|
|
|
|
Factory 2 : |
H.O.T/7-8, Darshan Com. Nilambaug Fac. A/55, Vithalwadi, 2nd Estate, Bhavnagar – 394230, Gujarat, India |
|
|
|
|
Factory 3 : |
Plot No.5 to 10, Kohinoor Society, Varachha Road, Surat - 394230, Gujarat, India |
|
|
|
|
Factory 4 : |
Unit No.3-N, on Plot No.240, Surat Special Economic Zone, Sachin, Surat – 394230, Gujarat, India |
DIRECTORS
|
Name : |
Mr. Muljibhai Dhanjibhai Vaghasia |
|
Designation : |
Director |
|
Address : |
Plot No .44, Vijayraj Nagar, Bhavnagar - 364002, Gujarat, India |
|
Date of Birth/Age : |
05.07.1957 |
|
Date of Appointment : |
27.03.2014 |
|
DIN No.: |
02604133 |
|
|
|
|
Name : |
Mr. Bhavanbhai Dhanjibhai Vaghasia |
|
Designation : |
Director |
|
Address : |
202-Apanch Ratna Tower, L H Road, Surat -395006, Gujarat, India |
|
Date of Birth/Age : |
14.05.1962 |
|
Date of Appointment : |
27.03.2014 |
|
PAN No.: |
ABTPV3456D |
|
DIN No.: |
02595451 |
|
|
|
|
Name : |
Mr. Jayeshkumar Limbabhai Bharodiya |
|
Designation : |
Director |
|
Address : |
33, Enterprise Apartments, Forjet Hill Road, Tardeo Mumbai – 400036
Maharashtra, India |
|
Date of Birth/Age : |
01.07.1974 |
|
Date of Appointment : |
27.03.2014 |
|
PAN No.: |
AAIPB6946L |
|
DIN No.: |
02595473 |
|
|
|
|
Name : |
Mr. Kenil Bhavanbhai Vaghasia |
|
Designation : |
Director |
|
Address : |
A-29,Trikam Nagar-1, L.H. Road,
Surat – 395006, Gujarat, India |
|
Date of Birth/Age : |
13.09.1990 |
|
Date of Appointment : |
27.03.2014 |
|
PAN No.: |
AIOPV6883C |
|
DIN No.: |
06917762 |
|
|
|
|
Name : |
Mr. Sumit Muljibhai Vaghasia |
|
Designation : |
Director |
|
Address : |
1801, Dhavalgiri Building, 18th Floor, Papanaswadi Nana
Chowk, Behind Golden Crown Hotel, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
09.02.1986 |
|
Date of Appointment : |
27.03.2014 |
|
PAN No.: |
AFZPV7631Q |
|
DIN No.: |
06917751 |
|
|
|
|
Name : |
Mr. Vallabhbhai Dhanjibhai Vaghasiya |
|
Designation : |
Director |
|
Address : |
1801/1802, Dhavalgiri Bldg. 18th Floor, Papanaswadi, Nana Chowk, Grant Road, Mumbai - 400036, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1954 |
|
Date of Appointment : |
27.03.2014 |
|
DIN No.: |
02594332 |
|
|
|
|
Name : |
Mr. Vandit Vallabhbhai Vaghasia |
|
Designation : |
Director |
|
Address : |
1801-1802,Dhavalgiri Bldg, 18th Floor, Papanaswadi, Nanachowk, Grant Road, Mumbai - 400036, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1980 |
|
Date of Appointment : |
27.03.2014 |
|
DIN No.: |
02594529 |
KEY EXECUTIVES
|
Name : |
Mr. Ashwin |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
AS ON 31.03.2014
|
Names of Shareholders |
No. of Shares |
|
Vallabhbhai Dhanjibhai Vaghasia |
500000 |
|
Vandit Vallabhbhai Vaghasia |
1150000 |
|
Muljibhai Dhanjibhai Vaghasia |
500000 |
|
Bhavanbhai Dhanjibhai Vaghasia |
500000 |
|
Sumit Muljibhai Vaghasia |
1150000 |
|
Kenil Bhavanbhai Vaghasia |
1150000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cut and Polished Diamond. |
|
|
|
|
Products : |
Diamond |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Cut and Polished Diamond |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Rough Diamond |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
2000 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Rajiv N Shah and Associates Chartered Accountants |
|
Address : |
A-001 Shreenath Darshaan, Factory Lane, Near M.K. High School, Borivali (West), Mumbai, Maharashtra, India |
|
PAN No.: |
AAFPS1156E |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Rs.100.000 Million
Issued, Subscribed & Paid-up Capital : Rs.62.500 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
62.500 |
50.000 |
|
(b) Reserves & Surplus |
|
1456.134 |
950.000 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
1518.634 |
1000.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
264.920 |
15.568 |
|
(b) Deferred tax liabilities (Net) |
|
7.961 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
272.881 |
15.568 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1865.136 |
2067.339 |
|
(b) Trade
payables |
|
2098.802 |
1356.760 |
|
(c) Other
current liabilities |
|
43.477 |
33.576 |
|
(d) Other long term
liabilities |
|
2.334 |
1.169 |
|
Total Current
Liabilities (4) |
|
4009.749 |
3458.844 |
|
|
|
|
|
|
TOTAL |
|
5801.264 |
4474.412 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
258.647 |
225.937 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
10.460 |
10.460 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
130.945 |
108.447 |
|
(e) Other
Non-current assets |
|
0.720 |
0.000 |
|
Total Non-Current
Assets |
|
400.772 |
344.844 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3006.662 |
2050.251 |
|
(c) Trade
receivables |
|
2150.433 |
1907.204 |
|
(d) Cash
and cash equivalents |
|
233.714 |
156.469 |
|
(e)
Short-term loans and advances |
|
9.683 |
15.644 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
5400.492 |
4129.568 |
|
|
|
|
|
|
TOTAL |
|
5801.264 |
4474.412 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
7670.482 |
|
|
|
Other Income |
|
|
11.720 |
|
|
|
TOTAL (A) |
|
|
7682.202 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
7658.703 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
|
(1189.102) |
|
|
|
Employee Benefits Expenses |
|
|
484.904 |
|
|
|
Other Expenses |
|
|
256.633 |
|
|
|
TOTAL (B) |
|
|
7211.138 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
471.064 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
115.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
|
355.705 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
|
17.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
|
337.766 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
69.133 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
|
268.633 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
52.30 |
|
VALLABHBHAI
DHANJIBHAI AND COMPANY (PARTNERSHIP FIRM)
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
6850.000 |
The above information has been parted by Mr. S. George (Finance Manager)
& Mr. Ashwin (Accounts Executive).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flow from (used in) operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2015 |
31.03.2014 |
|
Net Profit Margin PAT / Sales |
(%) |
|
3.50 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
|
6.14 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
|
5.83 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.22 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
1.40 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.35 |
1.19 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2014 |
31.03.2015 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
|
50.000 |
62.500 |
|
Reserves & Surplus |
|
950.000 |
1456.134 |
|
Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Net
worth |
|
1000.000 |
1518.634 |
|
|
|
|
|
|
long-term borrowings |
|
15.568 |
264.920 |
|
Short term borrowings |
|
2067.339 |
1865.136 |
|
Current Maturities of Long term debt |
|
0.000 |
0.000 |
|
Total
borrowings |
|
2082.907 |
2130.056 |
|
Debt/Equity
ratio |
|
2.083 |
1.403 |
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 |
No |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2015 Rs.
In Million |
31.03.2014 Rs.
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
|
0.605 |
|
|
|
|
|
Total |
|
0.605 |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
INDEX OF CHARGE:
|
S. No. |
Charge Id |
Date Of Charge Creation/Modification |
Charge Amount Secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10504164 |
27/03/2014 |
1,982,000,000.00 |
Bank of India |
Star House, C-5, B Block, Bandra- Kurla, Complex, Bandra (East), Mumbai - 400051, Maharashtra, India |
C07302748 |
FIXED ASSETS:
Tangible Assets
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other 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.65.02 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
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 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.