MIRA INFORM REPORT
|
Report No. : |
345982 |
|
Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MUNGI ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.80, Shyamkunj, Flat No. 501, N.S. Road No.9, Near Jamnabai
Nurfee School, Vile Parle (West), Mumbai – 400049, Maharashtra |
|
Tel no. : |
91-253-2387032 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-146663 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH2004PTC146663 |
|
|
|
|
IEC No.: |
3104013209 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM26807E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM0828M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturing of sheet metal components,
assembles and aggregates. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2004 and it is engaged in
manufacturing automotive sheet metal stamping, machined assemblies and bus
body building. For the financial year ended 2014, management has witness dip of 31%
in its revenue profile but it has maintain above average profit margin at
2.80% during the year under a review. Rating takes into consideration company’s satisfactory financial
profile marked by sound networth base along with above average debt protection
indicators and modest liquidity position of the company. Trade relations are reported as fair. Payment terms are reported to be
usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan Facilities: “BBB+” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
September 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based Facilities : “A2” |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
September 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sandeep |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9922433238 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered Office : |
Plot No.80, Shyamkunj, Flat No. 501, N.S. Road No.9, Near Jamnabai
Nurfee School, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Tel. No. : |
91-253-6640400 |
|
Mobile No. : |
91-9922433238 (Mr. Sandeep) |
|
Fax No. : |
91-253-2387026 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
E-67/68, MIDC Ambad, Nashik - 422010, Maharashtra, India |
|
Tel. No.: |
91-253-6640400/ 6640423/ 2387028 |
|
Fax No.: |
91-253-2387025 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
Gate No.2792, Kharabwadi, Chakan - Talegaon Road, Chakan,
Talluka Khed, District Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-611868 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Plot No. A-1/5, MVML Supplier Park, Chakan MIDC, Phase -
IV, Talluka Khed, District Pune - 410501, Maharashtra, India |
|
|
|
|
Factory 3: |
Plot No. G7, Phase III, Chakan Industrial Area, Chakan,
Talluka Khed, District Pune – 410501, Maharashtra, India |
|
|
|
|
Factory 4: |
Block No. 1, Servey No. 192/B1, Zaheerabad, District, Medak, Andhra Pradesh – 502220, India |
|
Email. : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vivek Shrikant Mungi |
|
Designation : |
Director |
|
Address : |
Plot No. 27, Usha Kiran Co-operative Housing Society, Off. Trimbak Road,
Nashik – 422002, Maharashtra, India |
|
Date of Birth/Age : |
07.07.1963 |
|
Qualification : |
BE |
|
Date of Appointment : |
01.06.2004 |
|
PAN No.: |
AACPM9286C |
|
DIN No. : |
00193870 |
|
|
|
|
Name : |
Mrs. Kavita Vivek Mungi |
|
Designation : |
Director |
|
Address : |
P. No. 27, Shrikanyt Sarve No.
746, Bunglow, Trimbak Road, Usha Kiran Co-Operative Housing Society, Nashik –
422002, Maharashtra, India |
|
Date of Birth/Age : |
02.01.1967 |
|
Date of Appointment : |
01.06.2004 |
|
DIN No. : |
00193861 |
|
|
|
|
Name : |
Mr. Sandeep Vivek Purkar |
|
Designation : |
Director |
|
Address : |
807/11, Chintamani Bunglow, Near New Era High School, Govind Nargar,
Nashik – 422009, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1981 |
|
Date of Appointment : |
16.06.2014 |
|
DIN No.: |
06897192 |
|
|
|
|
Name : |
Mr. Shrikant Narendra Shaligram |
|
Designation : |
Director |
|
Address : |
5, Rukhmini Apartment, Opposite Soor Hotel, New Naka, Gangapur Road,
Nashik – 422013, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1953 |
|
Date of Appointment : |
16.06.2014 |
|
DIN No.: |
06897207 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Vivek Shrikant Mungi |
1575934 |
90.05 |
|
Kavita Vivek Mungi |
233 |
0.01 |
|
Santosh Ganesh Kulkarni |
173833 |
9.93 |
|
Total |
1750000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
90.06 |
|
Others |
9.94 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of sheet metal components,
assembles and aggregates. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Sheet Metal Components |
||||
|
Countries : |
Japan |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash, Cheque and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Retailers and End Users · Mahindra and Mahindra Limited · Ashok Leyland, Chennai · Tata Motors, Pune · Spicer India Limited · Knorr Bremse India Private Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Eastern Express Highway, Gala No 9 &10, Sun, Magnetic, Near LIC Off, Louis Wadi Service Road, Thane - 400604, Maharashtra, India · Bank of Baroda, Nasik City Branch, Nasik – 422002, Maharashtra, India · The Janalaxmi Bank Limited · State Bank of Hyderabad · Kotak Mahindra Bank Limited ·
HDFC Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Prashant Kulkarni Chartered Accountant |
|
Address : |
1583, Kanade Maruti Lane, Nashik – 422001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AARPK5266H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprise under Common
Control of the Promoters : |
· Mungi Brothers · PVM Auto (Nasik) Private Limited · Mungi Engineers Zaheerabad Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1850000 |
Equity Shares |
Rs.10/- each |
Rs. 18.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
Rs.10/- each |
Rs. 17.500
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 |
17.500 |
17.500 |
17.500 |
|
(b) Reserves & Surplus |
1016.529 |
658.741 |
461.258 |
|
(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) |
1034.029 |
676.241 |
478.758 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
876.722 |
756.402 |
467.907 |
|
(b) Deferred tax liabilities
(Net) |
107.102 |
88.189 |
73.663 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
109.297 |
103.853 |
18.948 |
|
Total
Non-current Liabilities (3) |
1093.121 |
948.444 |
560.518 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
192.056 |
87.010 |
435.839 |
|
(b) Trade payables |
622.938 |
685.609 |
663.164 |
|
(c) Other current liabilities |
123.999 |
78.264 |
39.881 |
|
(d) Short-term provisions |
68.189 |
100.812 |
38.026 |
|
Total
Current Liabilities (4) |
1007.182 |
951.695 |
1176.910 |
|
|
|
|
|
|
TOTAL |
3134.332 |
2576.380 |
2216.186 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1651.538 |
1338.670 |
1120.091 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
323.958 |
158.207 |
12.126 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.121 |
0.105 |
0.031 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
51.480 |
42.743 |
70.660 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2027.097 |
1539.725 |
1202.908 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
356.796 |
294.734 |
396.637 |
|
(c) Trade receivables |
455.727 |
475.740 |
508.725 |
|
(d) Cash and cash equivalents |
25.771 |
89.206 |
66.099 |
|
(e) Short-term loans and
advances |
43.775 |
6.193 |
13.213 |
|
(f) Other current assets |
225.166 |
170.782 |
28.604 |
|
Total
Current Assets |
1107.235 |
1036.655 |
1013.278 |
|
|
|
|
|
|
TOTAL |
3134.332 |
2576.380 |
2216.186 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4698.463 |
5220.154 |
4555.800 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
190.214 |
268.887 |
166.501 |
|
|
|
|
|
|
|
Less |
TAX |
58.782 |
71.404 |
54.843 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
131.432 |
197.483 |
111.658 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
364.112 |
186.377 |
85.885 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
19.748 |
11.166 |
|
|
Total
|
0.000 |
19.748 |
11.166 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
495.544 |
364.112 |
186.377 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
75.10 |
112.85 |
63.80 |
As claimed by Mr. Sandeep (Accounts Department) that the company sales
turnover has decrease in the year 14-15 due to Auto Sector slow down
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Gross) |
|
|
5620.000 |
|
|
|
|
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
123.999 |
78.264 |
37.285 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
292.992 |
195.995 |
331.190 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.80 |
3.78 |
2.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.77 |
11.12 |
7.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.40 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.03 |
1.25 |
1.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.09 |
0.86 |
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 |
17.5 |
17.5 |
17.5 |
|
Reserves & Surplus |
461.258 |
658.741 |
1016.529 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
478.758 |
676.241 |
1034.029 |
|
|
|
|
|
|
long-term borrowings |
467.907 |
756.402 |
876.722 |
|
Short term borrowings |
435.839 |
87.01 |
192.056 |
|
Current maturities of
long-term debts |
37.285 |
78.264 |
123.999 |
|
Total
borrowings |
941.031 |
921.676 |
1192.777 |
|
Debt/Equity
ratio |
1.966 |
1.363 |
1.154 |
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 |
4555.800 |
5220.154 |
4698.000 |
|
|
|
14.583 |
(9.994) |
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 |
4555.800 |
5220.154 |
4698.463 |
|
Profit |
111.658 |
197.483 |
131.432 |
|
|
2.45% |
3.78% |
2.80% |
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 |
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
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 |
REVIEW OF OPERATIONS:
The company has successfully achieved the Turnover of Rs.4698.463 Million. The Net profit for the year has been Rs.131.431 Million as against Rs.197.483 Million during the previous financial year.
The entire automobile industry witnessed deep recession, due to this their company was also affected and the sale was dropped down to Rs.4698.463 Million as against Rs.5220.154 Million of previous year. Their directors are exploring new avenues to increase the business. We hope that the scale of turnover will pickup in the next year.
FINANCE:
The company has been taking adequate steps to raise need based working capital finance from banks, financial institutions as well as outside sources. Their directors are continuously looking for avenues for future growth of the company in the Automotive Industry.
MEGA PROJECT:
As per the Package Scheme of Incentives (PSI) 2007, Company's unit located at A 1/5 MVML Park and G-7, Chakan MIDC Phase IV Nighoje, Chakan, Taluka Khed, District Pune - 410 501 has been sanctioned Industrial Promotion Subsidy (IPS) amounting to Rs.1276.800 Million to be availed over a period of 7 years starting from 25th February , 2012. The Company received a credit of Rs.136.900 Million on 31st December, 2013. Further Company is eligible for a claim of IPS for F.Y. 2013-14 and a credit of Rs 74.200 Million is expected to be received shortly.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loan and advances from related parties |
14.858 |
25.222 |
|
|
|
|
|
Total |
14.858 |
25.222 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10437841 |
03/07/2013 |
150,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B80044308 |
|
2 |
10282779 |
28/03/2013 * |
875,000,000.00 |
STATE BANK OF INDIA |
EASTERN EXPRESS
HIGHWAY, GALA NO 9 &10, SUN, MAGN |
B73209520 |
|
3 |
10276671 |
28/12/2013 * |
300,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B96470620 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor 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.64.81 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.73.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.