MIRA
INFORM REPORT
|
Report No. : |
345995 |
|
Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DOVETAIL FURNITURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Block No. 240/B2, Bommasandra Industrial
Area, Hosur Road, Anekal Taluk, Bangalore – 560158, Karnataka |
|
Tel. No.: |
91-80-27832430/ 27835927 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
22.09.1994 |
|
|
|
|
Com. Reg. No.: |
08-016294 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 37.388
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U03610KA1994PTC016294 |
|
|
|
|
IEC No.: |
0799013285 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRD00816E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD5139N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Furniture. |
|
|
|
|
No. of Employees
: |
240 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1994 having
moderate track record. Subject is engaged in the business as manufacturer of furniture. The company has incurred heavy loss from its operational activities
during FY2015 which has further resulted into deterioration in reserves
level. However, trade relations are reported as fair. Business is active.
Payment terms are reported as slow but correct. The company can be considered for business dealings with some caution.
|
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
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Vinod S. |
|
Designation : |
Assistant Accounts Manager |
|
Contact No.: |
91-80-27832430 |
|
Date : |
17.10.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Block No. 240/B2, Bommasandra Industrial
Area, Hosur Road, Anekal Taluk, Bangalore – 560158, Karnataka, India |
|
Tel. No.: |
91-80-27832430/ 27835927 |
|
Mobile No.: |
91-9740197143 [Mr. Vinod S.] |
|
Fax No.: |
91-80-27831516 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Showroom : |
Located at: · Koramangala, Bangalore, Karnataka, India M.G. Road, Bangalore, Karnataka, India Malad, Mumbai, Maharashtra, India Pune, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Sundar S |
|
Designation : |
Managing director |
|
Address : |
Friends Colony, 13-14, Srinivagalu Village, Viveknagar Post, Bangalore – 560047, Karnataka, India |
|
Date of Birth/Age : |
13.07.1960 |
|
Date of Appointment : |
22.09.1994 |
|
DIN No.: |
00506793 |
|
|
|
|
Name : |
Palliath John Mathew |
|
Designation : |
Director |
|
Address : |
S. No. 41, Bhoothanahalli, Bannergatta Post, Bangalore – 560083, Karnataka, India |
|
Date of Birth/Age : |
24.07.1957 |
|
Date of Appointment : |
22.09.1994 |
|
DIN No.: |
01548573 |
|
|
|
|
Name : |
Mahendran Balachandran |
|
Designation : |
Director |
|
Address : |
301, F Block, 3, Raheja Residency, Koramangala, Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
04.12.1964 |
|
Date of Appointment : |
10.12.2007 |
|
DIN No.: |
00121640 |
KEY EXECUTIVES
|
Name : |
Mr. Vinod S. |
|
Designation : |
Assistant Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Sundar Subramanian |
|
668 |
|
Palliath John Mathew |
|
658 |
|
Aurora Anand |
|
658 |
|
Palliath Jacob Mathew |
|
668 |
|
Erasmic Venture Fund Limited, Mauritius |
|
1 |
|
|
|
|
|
Total |
|
2653 |
|
Names of
Preference Shareholder |
|
No.
of Shares |
|
Erasmic Venture Fund Limited, Mauritius |
|
360 |
|
|
|
|
|
Total |
|
360 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Venture Capital |
0.04 |
|
Directors
or relatives of directors |
49.98 |
|
Other
top fifty shareholders |
49.98 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Furniture. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and Manufacturer
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
240 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· Centurion Bank Limited Commissariat Road, Bangalore - 560025, Karnataka, India · Axis Bank Limited No.8, M. G. Road, Bangalore - 560001, Karnataka, India · Axis Bank Limited Esquire Centre, No.9, M G Road, Bangalore - 560001,
Karnataka, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chavan Associates Chartered Accountants |
|
Address : |
Khivraj Mansion, 10/2, Kasturba
Road, Bangalore – 560001, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAHPC2612H |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Related Party : [As on 31.03.2014] |
Trapeeze |
|
|
|
|
Entities in which KMP/ Relatives of KMP can exercise significant
influence : [As on 31.03.2014] |
Accel India Management Company Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 37.388 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
360 |
Convertible Cumulative Preference Shares |
Rs. 1031/- each |
Rs. 37.123 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 37.623 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2653 |
Equity Shares |
Rs. 100/- each |
Rs. 0.265
Million |
|
360 |
Convertible Cumulative Preference Shares |
Rs. 1031/- each |
Rs. 37.123
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 37.388 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.388 |
37.388 |
37.388 |
|
(b) Reserves & Surplus |
5.108 |
38.269 |
28.041 |
|
(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) |
42.496 |
75.657 |
65.429 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
8.444 |
11.479 |
14.511 |
|
(b) Deferred tax liabilities (Net) |
3.988 |
0.000 |
0.000 |
|
(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) |
12.432 |
11.479 |
14.511 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
25.977 |
37.936 |
34.141 |
|
(b)
Trade payables |
23.024 |
25.500 |
20.283 |
|
(c)
Other current liabilities |
11.571 |
13.461 |
33.423 |
|
(d) Short-term
provisions |
18.768 |
10.155 |
6.714 |
|
Total Current
Liabilities (4) |
79.340 |
87.052 |
94.561 |
|
|
|
|
|
|
TOTAL |
134.268 |
174.188 |
174.501 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
38.394 |
37.426 |
41.268 |
|
(ii)
Intangible Assets |
4.091 |
3.820 |
3.900 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.900 |
0.900 |
0.900 |
|
(c) Deferred tax assets (net) |
0.000 |
5.863 |
6.107 |
|
(d) Long-term Loan and Advances |
5.734 |
2.949 |
1.524 |
|
(e) Other
Non-current assets |
5.347 |
3.719 |
5.081 |
|
Total Non-Current
Assets |
54.466 |
54.677 |
58.780 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
27.761 |
30.660 |
31.642 |
|
(c)
Trade receivables |
38.275 |
73.657 |
56.459 |
|
(d) Cash
and cash equivalents |
5.787 |
7.176 |
18.525 |
|
(e) Short-term
loans and advances |
7.979 |
8.018 |
9.095 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
79.802 |
119.511 |
115.721 |
|
|
|
|
|
|
TOTAL |
134.268 |
174.188 |
174.501 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
247.720 |
250.136 |
199.708 |
|
|
|
Other Income |
5.509 |
1.078 |
1.855 |
|
|
|
TOTAL (A) |
253.229 |
251.214 |
201.563 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
96.047 |
90.389 |
|
|
|
|
Purchases of Stock-in-Trade |
8.474 |
25.186 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.445 |
(1.531) |
|
|
|
|
Employees benefits expense |
63.684 |
55.770 |
|
|
|
|
Other expenses |
93.733 |
53.069 |
|
|
|
|
Prior Period Items |
0.000 |
3.745 |
|
|
|
|
TOTAL (B) |
262.383 |
226.628 |
194.384 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(9.154) |
24.586 |
[Including Depreciation Expenses] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.043 |
5.883 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(14.197) |
18.703 |
7.179 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.113 |
5.425 |
3.996 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(23.310) |
13.278 |
3.183 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.851 |
2.994 |
1.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(33.161) |
10.284 |
1.588 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales |
|
|
0.249 |
|
|
|
Advance received |
|
|
0.059 |
|
|
TOTAL EARNINGS |
NA
|
NA
|
0.308 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
0.143 |
0.324 |
|
|
|
Plant and Machinery |
|
0.000 |
0.020 |
|
|
TOTAL IMPORTS |
NA
|
0.143 |
0.344 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(12499.00) |
3876.00 |
527.00 |
|
Expected Sales (2015-2016): Rs.350.000 Million
The above information has been parted by Mr. Vinod S. [Assistant
Accounts Manager]
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(13.39) |
4.11 |
0.80 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(3.70) |
9.83 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.48) |
7.93 |
1.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.55) |
0.18 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.81 |
0.65 |
0.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
1.37 |
1.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
37.388 |
37.388 |
37.388 |
|
Reserves & Surplus |
28.041 |
38.269 |
5.108 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
65.429 |
75.657 |
42.496 |
|
|
|
|
|
|
Long-term borrowings |
14.511 |
11.479 |
8.444 |
|
Short term borrowings |
34.141 |
37.936 |
25.977 |
|
Total
borrowings |
48.652 |
49.415 |
34.421 |
|
Debt/Equity ratio |
0.744 |
0.653 |
0.810 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
199.708 |
250.136 |
247.720 |
|
|
|
25.251 |
-0.966 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
199.708 |
250.136 |
247.720 |
|
Profit |
1.588 |
10.284 |
-33.161 |
|
|
0.80% |
4.11% |
-13.39% |
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 |
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 |
Yes |
|
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 |
Yes |
|
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 |
10124578 |
09/04/2015 * |
62,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING
BRANCH, EXPRESS BUILDING, SECOND FLOOR, NO.1, QUEEN'S ROAD, BANGALORE,
KARNATAKA |
C54730627 |
|
2 |
90195905 |
26/09/2005 |
4,000,000.00 |
UTI BANK LIMITED |
M.G. ROAD BRANCH,
M.G. ROAD, BANGLORE, KARNATAKA |
- |
|
3 |
80028512 |
21/01/2013 * |
47,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH,
EXPRESS BUILDING, SECOND FLOOR, NO.1, QUEEN'S ROAD, BANGALORE,
KARNATAKA |
B69682581 |
|
4 |
80041223 |
10/05/2007 * |
10,500,000.00 |
AXIS BANK LIMITED |
"ESQUIRE
CENTRE",, NO.9, M.G.ROAD,, BANGALORE, KA |
A32560039 |
|
5 |
80028522 |
28/03/2007 * |
33,000,000.00 |
UTI BANK LIMITED |
ESQUIRE CENTRE,
NO.9, M G ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
6 |
90195572 |
12/04/2001 |
2,000,000.00 |
INDINA OVERSEAS
BANK |
KORAMANGALA BRANCH,
BANGLORE, KARNATAKA, INDIA |
- |
|
7 |
90197876 |
17/10/2003 * |
600,000.00 |
INDIAN OVERSEAS
BANK |
310/6; HR COMPLEX,
INDUSTRIAL MAIN ROAD; V BLOCK; |
- |
|
8 |
90200567 |
10/07/2003 * |
600,000.00 |
INDIAN OVERSEAS
BANK |
310/6; HR COMPLEX;
INDUSTRIAL MAIN ROAD, V; BLOCK |
- |
|
9 |
90197870 |
12/12/2000 |
600,000.00 |
INDIAN OVERSEAS
BANK |
310/6; HR COMPLEX,
INDUSTRIAL MAIN ROAD; V BLOCK; K., BANGALORE, KARNATAKA, INDIA |
- |
|
10 |
90195531 |
24/08/2000 |
130,000.00 |
VIJAYA BANK |
TRINITY CIRCLE
BRANCH, BANGLORE, KARNATAKA, INDIA |
- |
|
11 |
90197779 |
26/06/2000 |
700,000.00 |
VIJAYA BANK |
TRINITY CIRCLE BRANCH,
PRIMROSE ROAD, BANGALORE, |
- |
|
12 |
90200507 |
26/06/2000 |
600,000.00 |
INDIAN OVERSEAS
BANK |
310/6; HR LOUPLARA
INDUSTRIAL MAIN ROAD, V BLOCK; |
- |
|
13 |
90193560 |
20/09/1990 |
200,000.00 |
VIJAYA BANK |
TRINITY CIRCLE
BRANCH, M.G. ROAD, BANGLORE, KARNATAKA - 560001, INDIA |
- |
|
14 |
90194906 |
04/12/1992 * |
75,000.00 |
VIJAYA BANK |
M.G. ROAD,
BANGLORE, KARNATAKA - 560001, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs. In Million) |
31.03.2013 (Rs. In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans from related parties |
0.095 |
0.095 |
|
SHORT TERM BORROWINGS |
|
|
|
Financial Institutions |
0.823 |
4.788 |
|
|
|
|
|
Total |
0.918 |
4.883 |
CORPORATE
INFORMATION
The company is carrying on the business of designing, consultancy and
manufacture of furniture. This is a small and medium sized company.
FIXED ASSETS:
· Land
Building
Plant
and Machinery
Vehicles
Furniture
and Fixture
Office
Equipment
Goodwill
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. 64.97 |
|
|
1 |
Rs. 100.55 |
|
Euro |
1 |
Rs. 73.99 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.