MIRA INFORM REPORT
|
Report No. : |
345158 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
FORTUNE METALS LIMITED |
|
|
|
|
Registered
Office : |
Ferozepur Road, Opposite Circuit House, Ludhiana – 141001, Punjab |
|
Tel. No.: |
91-161-2402763 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.11.2004 |
|
|
|
|
Com. Reg. No.: |
16-027603 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.28.310 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100PB2004PLC027603 |
|
|
|
|
IEC No.: |
3006017404 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLF10275G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF8508P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of ferrous and non-ferrous metals. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company incorporated in the year 2004 having
satisfactory track record. Subject is engaged in the business as manufacturer of ferrous and
non-ferrous metals. The company is progressing well. General financial position of the
company is normal and acceptable for business dealings. Further, the rating also takes into consideration favorable gap
between trade payables and trade receivables. Moreover, this rating strength is partially offset by increased in the
borrowings of the company during FY 2014. Trade relations are reported as fair. Business is active. Payments are
reported as slow but correct. The company can be considered normal 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 |
CRISIL |
|
Rating |
Long term rating= BB (Suspended) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
23.04.2015 |
Reason for suspended: Non Co-operation by the company
to undertake rating.
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. Shankar Gupta |
|
Designation : |
Vice President |
|
Contact No.: |
91-11-46089652 |
|
Date : |
13.10.2015 |
LOCATIONS
|
Registered Office : |
Ferozepur Road, Opposite Circuit House, Ludhiana – 141001, Punjab,
India |
|
Tel. No.: |
91-161-2402763 / 5099954 / 58 |
|
Fax No.: |
91-161-2403009 / 5099957 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Corporate Office
: |
612, Somdutt Chambers-II, 9, Bhikaji Cama Place, New Delhi – 110066,
India |
|
Tel. No.: |
91-11-46089652 |
|
Fax No.: |
91-11-46089653 |
|
|
|
|
Factory 1 : |
Talwara Road, Mandi Gobindgarh, District Fatehgarh Sahib, Punjab – 147301,
India |
|
Tel. No.: |
91-1765-507575 / 77 |
|
Fax No.: |
91-1765-507578 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Siltara Industrial Groeth Center, Phase II, VPO Sondra Chikhali,
Raipur, Chhattisgarh, India |
DIRECTORS
AS ON 10.09.2014
|
Name : |
Mr. Deep Bansal |
|
Designation : |
Managing Director |
|
Address : |
709 - B, 1st Floor, Aggar Nagar, Ludhiana - 141001, Punjab,
India |
|
Date of Birth/Age : |
17.06.1980 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
00732622 |
|
|
|
|
Name : |
Mr. Subodh Kumar Sharma |
|
Designation : |
Director |
|
Address : |
B - 5 And 6/4057, Vasant Kunj, New Delhi - 110070, India |
|
Date of Birth/Age : |
15.06.1961 |
|
Date of Appointment : |
28.04.2014 |
|
DIN No.: |
01439585 |
|
|
|
|
Name : |
Mr. Bhagwan Dass Bansal |
|
Designation : |
Whole-time Director |
|
Address : |
709-B, Aggar Nagar, Ludhiana - 144001, Punjab, India |
|
Date of Birth/Age : |
29.02.1956 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
00732496 |
|
|
|
|
Name : |
Nitika Bansal |
|
Designation : |
Director |
|
Address : |
709-B, Aggar Nagar, Ludhiana - 144001, Punjab, India |
|
Date of Appointment : |
02.02.2015 |
|
DIN No.: |
00970280 |
|
|
|
|
Name : |
Mr. Sushil Kumar Singla |
|
Designation : |
Director |
|
Address : |
2055, Phase-1, Urban Estate, Dugri Road, Ludhiana - 141002, Punjab,
India |
|
Date of Appointment : |
02.02.2015 |
|
DIN No.: |
00126157 |
|
|
|
|
Name : |
Mr. Amit Goyal |
|
Designation : |
Director |
|
Address : |
#416 Sec4/C, Shastri Nagar, FGS, Mgobindgarh - 147301, Punjab, India |
|
Date of Appointment : |
02.02.2015 |
|
DIN No.: |
02313274 |
KEY EXECUTIVES
|
Name : |
Mr. Shankar Gupta |
|
Designation : |
Vice President |
MAJOR SHAREHOLDERS
AS ON 10.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bhagwan Dass Bansal |
|
34000 |
|
Deep Bansal |
|
695000 |
|
Nitika Bansal |
|
249000 |
|
Uma Bansal |
|
237000 |
|
Global Transmission Private Limited, India |
|
1043000 |
|
Saurabh Bansal |
|
1000 |
|
Fortune Nickel Limited, India |
|
40000 |
|
Fantastic Commercial Private Limited, India |
|
30000 |
|
Fortune Re-Rollers Private Limited, India |
|
40000 |
|
Shivangan Tie-up Private Limited, India |
|
702000 |
|
Fortune Infratech Private Limited, India |
|
60000 |
|
Rosewood Mercantile Private Limited, India |
|
548000 |
|
|
|
|
|
Total |
|
3679000 |
AS ON 02.06.2015
|
Names of Allottees |
|
No. of Shares |
|
Rosewood Mercantile Private Limited, India |
|
15244 |
|
Gayatri Investment Consultants Private Limited, India |
|
33537 |
|
Rita Machines India Private Limited, India |
|
121950 |
|
Navratan Distributors Private Limited, India |
|
54878 |
|
|
|
|
|
Total |
|
225609 |
Equity Share Break up (Percentage of Total Equity)
AS ON 10.09.2014
|
Category |
Percentage |
|
Bodies corporate |
66.95 |
|
Directors or relatives of Directors |
33.05 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of ferrous and non-ferrous metals. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Credit (30 / 60 / 90 Days) |
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Purchasing : |
Cash, Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Anju Aggarwal and Associates Chartered Accountants |
|
Address : |
37-A, 2nd Lane, Model Gram, Ludhiana, Punjab, India |
|
PAN
No.: |
AAGFA6489F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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Other related party : |
|
CAPITAL STRUCTURE
AFTER 10.09.2014
Authorised Capital: Rs.47.516 Million
Issued, Subscribed & Paid-up Capital: Rs.43.011
Million
AS ON 10.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3679000 |
Equity Shares |
Rs.10/- each |
Rs.36.790 Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3281000 |
Equity Shares |
Rs.10/- each |
Rs. 32.810
Million |
|
|
Call unpaid |
|
Rs.4.500
Million |
|
|
|
|
|
|
|
Total |
|
Rs.28.310 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 |
28.310 |
28.310 |
20.910 |
|
(b) Reserves & Surplus |
435.529 |
366.876 |
248.172 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
106.000 |
55.450 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
569.839 |
450.636 |
269.082 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
419.000 |
375.628 |
193.541 |
|
(b) Deferred tax liabilities
(Net) |
50.893 |
34.094 |
21.690 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
469.893 |
409.722 |
215.231 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
748.542 |
462.337 |
333.137 |
|
(b) Trade payables |
192.099 |
278.276 |
243.814 |
|
(c) Other current liabilities |
161.736 |
81.438 |
93.155 |
|
(d) Short-term provisions |
10.367 |
2.073 |
3.595 |
|
Total
Current Liabilities (4) |
1112.744 |
824.124 |
673.701 |
|
|
|
|
|
|
TOTAL |
2152.476 |
1684.482 |
1158.014 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
702.101 |
462.551 |
179.637 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
7.984 |
33.557 |
88.615 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.411 |
0.411 |
0.211 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
72.089 |
60.072 |
49.204 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
782.585 |
556.591 |
317.667 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.999 |
0.681 |
0.589 |
|
(b) Inventories |
298.574 |
157.950 |
152.005 |
|
(c) Trade receivables |
883.824 |
716.180 |
528.513 |
|
(d) Cash and cash equivalents |
68.917 |
83.273 |
91.705 |
|
(e) Short-term loans and
advances |
117.577 |
169.807 |
67.535 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1369.891 |
1127.891 |
840.347 |
|
|
|
|
|
|
TOTAL |
2152.476 |
1684.482 |
1158.014 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3298.244 |
3115.751 |
2876.264 |
|
|
Other Income |
16.544 |
20.063 |
12.606 |
|
|
TOTAL
(A) |
3314.788 |
3135.814 |
2888.870 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2675.308 |
2275.319 |
1902.819 |
|
|
Purchases of Stock-in-Trade |
361.376 |
512.846 |
699.371 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(128.816) |
7.134 |
(16.809) |
|
|
Employees benefits expense |
47.880 |
32.948 |
20.377 |
|
|
Other expenses |
217.221 |
164.004 |
154.034 |
|
|
Exceptional items |
0.000 |
0.090 |
0.000 |
|
|
Extraordinary items |
0.000 |
(0.056) |
0.123 |
|
|
TOTAL
(B) |
3172.969 |
2992.285 |
2759.915 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
141.819 |
143.529 |
128.955 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
63.898 |
78.610 |
83.575 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
77.921 |
64.919 |
45.380 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
26.132 |
14.590 |
12.502 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
51.789 |
50.329 |
32.878 |
|
|
|
|
|
|
|
Less |
TAX (H) |
16.886 |
16.724 |
11.965 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
34.903 |
33.605 |
20.913 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
147.686 |
114.081 |
93.168 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
182.589 |
147.686 |
114.081 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
12.33 |
11.87 |
10.00 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
3500.000 |
The above information has been parted by Mr. Shankar Gupta
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
56.866 |
36.109 |
27.641 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(185.940) |
(208.959) |
127.495 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.06 |
1.08 |
0.73 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.30 |
4.61 |
4.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.42 |
3.05 |
3.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.11 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.15 |
1.94 |
2.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.37 |
1.25 |
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 |
20.910 |
28.310 |
28.310 |
|
Reserves & Surplus |
248.172 |
366.876 |
435.529 |
|
Share Application money pending allotment |
0.000 |
55.450 |
106.000 |
|
Net
worth |
269.082 |
450.636 |
569.839 |
|
|
|
|
|
|
long-term borrowings |
193.541 |
375.628 |
419.000 |
|
Short term borrowings |
333.137 |
462.337 |
748.542 |
|
Current maturities of
long-term debts |
27.641 |
36.109 |
56.866 |
|
Total
borrowings |
554.319 |
874.074 |
1224.408 |
|
Debt/Equity
ratio |
2.060 |
1.940 |
2.149 |
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 |
2876.264 |
3115.751 |
3298.244 |
|
|
|
8.326 |
5.857 |
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 |
2876.264 |
3115.751 |
3298.244 |
|
Profit |
20.913 |
33.605 |
34.903 |
|
|
0.73% |
1.08% |
1.06% |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
FINANCIAL ANALYSIS AND REVIEW OF OPERATIONS:
Production and Sales
Review:
During the year, the Company has registered Revenue from Operations (turnover) of Rs. 3314.788 Million as compared to Rs. 3135.813 Million showing an increase of 5.71% over previous year. The business wise performance is as under:-
a) TMT Bars:
The production of TMT Bars decreased from 60767.135 MT to 53714.10 MT, showing an decline of 11.61% over the previous year. The Sales revenue of TMT Bars decreased from Rs. 2741.382 Million to Rs. 2228.714 Million during the year thereby showing a decrease of 18.70%.
b) MS Pipes:
The production of MS Pipes in Unit II of the Company situated at Raipur, Chhattisgarh has increased from 3101.949 MT to 18412.11 MT. The Sales revenue of MS Pipes increased from Rs. 123.398 Million to Rs. 859.790 Million.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Other loans and advances |
171.224 |
74.920 |
|
|
|
|
|
Total |
171.224 |
74.920 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10571542 |
26/05/2015 |
18,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C54712187 |
|
2 |
10466582 |
21/03/2014 * |
948,000,000.00 |
STATE BANK OF INDIA |
SME, SUNDER NAGAR, LUDHIANA, PUNJAB - 141008, INDIA |
C03593035 |
|
3 |
10466581 |
06/06/2014 * |
270,000,000.00 |
STATE BANK OF INDIA |
SME, SUNDER NAGAR, LUDHIANA, PUNJAB - 141008, INDIA |
C09285826 |
|
4 |
10384039 |
04/09/2012 |
240,000,000.00 |
STATE BANK OF INDIA |
SHB, SUNDER NAGAR, LUDHIANA, PUNJAB - 141007, INDIA |
B61130597 |
|
5 |
10352860 |
20/03/2012 |
30,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJ |
B38640892 |
|
6 |
10109500 |
23/05/2014 * |
1,058,500,000.00 |
STATE BANK OF INDIA |
SME, SUNDER NAGAR, LUDHIANA, PUNJAB - 141008, INDIA |
C06866495 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· 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.65.11 |
|
|
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT / KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
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 |
|
44 |
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.