MIRA INFORM REPORT
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Report No. : |
345622 |
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Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
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Name : |
PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED (w.e.f. 29.07.2010) |
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Formerly Known
As : |
PEASS INDUSTRIAL ENGINEERS LIMITED PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
Post Box No. 128, |
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Tel. No.: |
91-22-61210900 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.12.1962 |
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Com. Reg. No.: |
04-001177 |
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Capital
Investment / Paid-up Capital : |
Rs. 15.000 Million |
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CIN No.: [Company Identification
No.] |
U29259GJ1962PTC001177 |
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IEC No.: |
0888012357 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP01473D |
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PAN No.: [Permanent Account No.] |
AABCP3786G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of winding machines including cone winders,
precision winders and versa winders and their related spares parts. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 11th December, 1962. The
manufacturing plant of subject company is located at Navsari in South
Gujarat. It has satisfactory track record. The company possesses adequate networth base, significant improvement
in gearing ratios, good profitability and fair liquidity position. Trade relations are fair. Business is active. Payment are reported to
be 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.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2013.
INFORMATION DECLINED BY
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Name : |
Mr. Dharmesh |
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Designation : |
Chief financial Officer |
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Contact No.: |
91-22-61210900 |
LOCATIONS
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Registered Office : |
Post Box No. 128, |
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Tel. No.: |
91-2637-250811 / 240843 / 325101 / 329419 |
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Fax No.: |
91-2637-257321 |
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E-Mail : |
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Website : |
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Head Office : |
Merchant Chambers, 2nd Floor, 41, New Marine
Lines, Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91-22-61210900 |
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Fax No.: |
91-22-66310570 |
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E-Mail : |
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Branch Office 1 : |
729, Pocket E, Mayur Vihar Phase II, New Delhi – 110091, India |
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Tel. No.: |
91-11-22773701 / 32445102 / 03 |
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Fax No.: |
91-11-22774741 |
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E-Mail : |
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Branch Office 2 : |
P1,
3rd Floor, Red Rose Plaza, 509, D.B. Road, R.S. Puram, Coimbatore – 641002,
Tamilnadu, India |
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Tel. No.: |
91-422-2544097
/ 3245115 / 4368097 |
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Fax No.: |
91-422-2544097 |
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E-Mail : |
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Branch Office 3 : |
Samudra
B-201, 2nd Floor, |
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Tel. No.: |
91-79-26427665
/ 32935112 |
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Fax No.: |
91-79-26427665 |
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E-Mail : |
DIRECTORS
AS ON 17.09.2014
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Name : |
Mr. Maheshchandra Purshottamdas Patel |
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Designation : |
Managing Director |
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Address : |
Sitakunj, 164, Maharshi Harve Road, Mumbai - 400020, Maharashtra, India |
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Date of Birth/Age : |
20.04.1937 |
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Date of Appointment : |
11.12.1962 |
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DIN No.: |
00317403 |
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Other Directorship :
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Name : |
Mr. Bhargav Anilkumar Patel |
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Designation : |
Director |
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Address : |
Nariman Building, First Floor, 136, Maharshi Karve Road, Opposite Cooperage Bus, Mumbai - 400020, Maharashtra, India |
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Date of Birth/Age : |
19.11.1963 |
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Date of Appointment : |
11.08.1989 |
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DIN No.: |
00318051 |
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Other Directorship :
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Name : |
Mr. Anand Maheshchandra Patel |
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Designation : |
Director |
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Address : |
Sita Kunj, 164, Maharshi Karve Road, Mumbai - 400020, Maharashtra, India |
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Date of Birth/Age : |
16.07.1971 |
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Date of Appointment : |
13.03.1995 |
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DIN No.: |
00318118 |
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Other Directorship :
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Name : |
Mr. Vineet Goel |
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Designation : |
Director |
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Address : |
Flat No. 34, Arcade, Plot No. 60, Sector 17, Vashi, Navimumbai - 400703, Maharashtra, India |
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Date of Birth/Age : |
17.10.1970 |
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Date of Appointment : |
17.09.2014 |
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DIN No.: |
01993939 |
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Other Directorship :
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Name : |
Mr. Zhengping Zeng |
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Designation : |
Director |
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Address : |
Rm. 1206, Building 107, No. 2000 Gu Dai Road, Shanghai - 201101, , China |
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Date of Appointment : |
17.09.2014 |
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DIN No.: |
06646679 |
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Other Directorship :
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Name : |
Martin Paul Folini |
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Designation : |
Additional Director |
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Address : |
Allmendboden 23, Kusnacht - 8700, Switzerland |
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Date of Appointment : |
06.05.2015 |
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DIN No.: |
07117546 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Smitesh Amul Desai |
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Designation : |
Secretary |
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Address : |
5, Rajnigandha,, Tithal Road, Valsad - 396001, Gujarat, India |
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PAN No.: |
ABXPD0755D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.09.2014
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Names of Shareholders |
No. of Shares |
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Bhargav Patel (HUF) |
12000 |
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Saurer AG |
76500 |
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Patel Anil Kumar Jyoti |
8353 |
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Patel Anil Kumar Bhargav |
11259 |
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Patel Purshottamdas Maheshchandra |
9103 |
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The executor to the estate of Kantilal B. Desai, India |
20 |
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Patel Maheshchandra Brinda |
2065 |
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Patel Maheshchandra Meena |
8958 |
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Patel Maheshchandra Anand |
8959 |
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Patel Purshothamdas Mahesh |
7655 |
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Patel Bhargav Preya |
2808 |
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Patel (HUF) Anilkumar Bhargav |
2320 |
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Total |
150000 |
AS ON 17.09.2014
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
51.00 |
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Directors
or relatives of directors |
49.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of winding machines including cone winders,
precision winders and versa winders and their related spares parts. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V. Sankar Aiyar and Company Chartered Accountants |
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Address : |
2-C, Court Chamber, Marine Lines, Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91-22-22004465/ 22067440 |
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Fax No.: |
91-22-22000649 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFV0781D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company : |
· Oerlikon Textile GmbH and Co. KG (till 2nd July, 2013) · Saurer AG (From 3rd July, 2013) |
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Associate : |
Saurer (JiangSu) Textile Machinery Co. Limited (Formerly knowns as Oerlikon (China) Technology Co. Limited) |
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Enterprises over which the above persons have control : |
· Peass Export Limited · Peass Automation Limited · Amo enterprises Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
300,000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
150,000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000
Million |
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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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
15.000 |
15.000 |
15.000 |
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(b) Reserves & Surplus |
253.486 |
220.250 |
198.707 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
268.486 |
235.250 |
213.707 |
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(3)
Non-Current Liabilities |
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|
|
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(a) Long-term borrowings |
0.581 |
1.112 |
3.074 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
5.901 |
7.389 |
4.593 |
|
Total
Non-current Liabilities (3) |
6.482 |
8.501 |
7.667 |
|
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|
|
|
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(4) Current Liabilities |
|
|
|
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(a)
Short term borrowings |
19.699 |
45.770 |
19.601 |
|
(b)
Trade payables |
53.966 |
46.440 |
36.432 |
|
(c)
Other current liabilities |
25.865 |
31.882 |
24.247 |
|
(d)
Short-term provisions |
64.816 |
7.568 |
10.483 |
|
Total
Current Liabilities (4) |
164.346 |
131.660 |
90.763 |
|
|
|
|
|
|
TOTAL |
439.314 |
375.411 |
312.137 |
|
|
|
|
|
|
II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
46.343 |
51.396 |
57.692 |
|
(ii)
Intangible Assets |
0.542 |
0.490 |
0.354 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets
(net) |
9.983 |
7.158 |
6.100 |
|
(d) Long-term Loan
and Advances |
3.895 |
2.777 |
10.623 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.280 |
|
Total
Non-Current Assets |
61.263 |
62.321 |
75.549 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
93.584 |
89.636 |
57.998 |
|
(c)
Trade receivables |
83.281 |
88.521 |
67.253 |
|
(d)
Cash and cash equivalents |
158.438 |
100.310 |
88.316 |
|
(e)
Short-term loans and advances |
39.794 |
31.662 |
22.957 |
|
(f)
Other current assets |
2.954 |
2.961 |
0.064 |
|
Total
Current Assets |
378.051 |
313.090 |
236.588 |
|
|
|
|
|
|
TOTAL |
439.314 |
375.411 |
312.137 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
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|
TOTAL (A) |
791.000 |
544.200 |
559.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
671.800 |
492.100 |
496.200 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
119.200 |
52.100 |
63.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.100 |
6.600 |
4.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
116.100 |
45.500 |
58.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.600 |
12.300 |
12.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
105.500 |
33.200 |
45.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
37.200 |
11.700 |
14.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
68.300 |
21.500 |
31.200 |
|
|
|
|
|
|
|
|
|
|
EXPORTS |
|
|
|
|
|
|
|
Exports on F.O.B basis |
332.334 |
158.918 |
158.918 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
455.33 |
143.33 |
208.00 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.496 |
1.994 |
2.057 |
|
Cash Generated from Operations |
NA |
NA |
NA |
|
Net Cash Flow from used in Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.60 |
9.03 |
14.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.14 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.08 |
0.21 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30 |
2.38 |
2.61 |
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 |
15.000 |
15.000 |
15.000 |
|
Reserves & Surplus |
198.707 |
220.250 |
253.486 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
213.707 |
235.250 |
268.486 |
|
|
|
|
|
|
Long-term borrowings |
3.074 |
1.112 |
0.581 |
|
Short term borrowings |
19.601 |
45.770 |
19.699 |
|
CURRENT MATURITIES OF LONG-TERM
DEBTS |
2.057 |
1.994 |
1.496 |
|
Total
borrowings |
24.732 |
48.876 |
21.776 |
|
Debt/Equity
ratio |
0.116 |
0.208 |
0.081 |
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) |
|
Total Income |
559.500 |
544.200 |
791.000 |
|
|
|
-2.735 |
45.351 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
559.500 |
544.200 |
791.000 |
|
Profit |
31.200 |
21.500 |
68.300 |
|
|
5.58% |
3.95% |
8.63% |
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 |
No |
|
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 |
No |
|
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 |
10506447 |
06/06/2014 |
434,250.00 |
INDIAN
OVERSEAS BANK |
MERCHANT
CHAMBER, GR. FLOOR,, NEW MARINE LINES, MUMBAI., MUMBAI - 400020, MAHARASHTRA,
INDIA |
C09570334 |
|
2 |
10506450 |
06/06/2014 |
434,250.00 |
INDIAN
OVERSEAS BANK |
MERCHANT
CHAMBER, GR. FLOOR, NEW MARINE LINES, MUMBAI., MUMBAI - 400020, MAHARASHTRA,
INDIA |
C09571795 |
|
3 |
10506453 |
06/06/2014 |
434,250.00 |
INDIAN
OVERSEAS BANK |
MERCHANT
CHAMBER, GR. FLOOR, NEW MARINE LINES, MUMBAI., MUMBAI - 400020, MAHARASHTRA,
INDIA |
C09573676 |
|
4 |
10506459 |
06/06/2014 |
479,250.00 |
INDIAN
OVERSEAS BANK |
MERCHANT
CHAMBER, GR. FLOOR, NEW MARINE LINES, MUMBAI - 400020, MAHARASHTRA, INDIA |
C09576596 |
|
5 |
10500514 |
18/03/2014 |
500,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSE, SENAPATI BAPAT MARG,, LOWER PAREL (WEST), MUMBAI - 400013,
MAHARASHTRA, INDIA |
C05704945 |
|
6 |
10500517 |
18/03/2014 |
500,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSE, SENAPATI BAPAT MARG,, LOWER PAREL (WEST), MUMBAI - 400013,
MAHARASHTRA, INDIA |
C05708649 |
|
7 |
10365828 |
24/05/2012 |
98,405,000.00 |
INDIAN
OVERSEAS BANK |
MERCHANT
CHAMBERS, GROUND FLOOR, OPP. SNDT COLLEGE, NEW MARINE LINES, MUMBAI - 400020,
MAHARASHTRA, INDIA |
B43751007 |
|
8 |
10346825 |
17/02/2012 |
26,303,000.00 |
INDIAN
OVERSEAS BANK |
MERCHANT
CHAMBERS, GROUND FLOOR, OPP. SNDT COLLEGE, NEW MARINE LINES, MUMBAI - 400020,
MAHARASHTRA, INDIA |
B36731800 |
|
9 |
10338116 |
07/01/2012
* |
80,101,828.00 |
INDIAN
OVERSEAS BANK |
MERCHANT
CHAMBERS, GROUND FLOOR, OPP. SNDT COLLEGE, NEW MARINE LINES, MUMBAI - 400020,
MAHARASHTRA , INDIA |
B33808064 |
* Date of charge modification
BACKGROUND
The company was incorporated on 11 December 1962. On February 2007, 51% of the Company’s share capital was acquired by Oerlikon Textile GmbH and Company KG., Germany. On 3rd July, 2013, SAURER. AG acquired 51% of the company’s share capital from Oerlikon Textile GmbH and Company.
The company is engaged in the business of manufacturing winding machines including cone winders, precision winders and versa winders and their related spares parts.
OPERATIONS
The Company has achieved Turnover [Sales and Other income] of INR 791.000 Million for the year which is 45 % higher compared to last financial year. The profit after tax is INR 68.300 Million during the year ending on 31st March 2014 as against corresponding figure of INR 21.500 Million during previous year ending on 31st March 2013.
The turnover and profitability has increases due to steps taken by company in previous year and also due to positive market condition and continued Global economic improvement.
FIXED ASSETS:
Tangible Assets
· Freehold Land
· Building
· Plant and Machinery
· Computer
· Furniture and Fixtures
· Vehicles
· Office Equipment
Intangible Assets
· Computer Software
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 : |
KMN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.