MIRA INFORM REPORT

 

 

Report No. :

345454

Report Date :

21.10.2015

 

IDENTIFICATION DETAILS

 

Name :

AVALON COSMETICS PRIVATE LIMITED

 

 

Registered Office :

Unit No 03, Level 02,Centrium, Phoenix Market City, Kurla, Mumbai – 400070, Maharashtra

Mobile No.:

91-9820147432

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.04.2003

 

 

Com. Reg. No.:

11-140203

 

 

Capital Investment / Paid-up Capital :

Rs.1.187 Million

 

 

CIN No.:

[Company Identification No.]

U24246MH2003PTC140203

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing of Cosmetics products.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 800000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2003. It has satisfactory track.

 

For the financial year 2014, the company has satisfactory operational activity marked by decent sales turnover along with profitability margin 1.7%.

 

The company has healthy financial position marked by adequate networth position.

 

The rating reflects the extensive experience of the Vanity Case group’s promoters in the manufacturing industry and its established customer relationship.

 

Trade relations are fair. Business is active. Payments are usually correct.

 

The company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

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 Bank Facilities = BBB -

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

August, 2015

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Robin Dsouza

Designation :

Manager

Contact No.:

91-9820147432

Date :

19.10.2015

 

LOCATIONS

 

Registered Office :

Unit No 03, Level 02,Centrium, Phoenix Market City, Kurla, Mumbai – 400070, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9820147432 (Mr. Robin Dsouza)

Fax No.:

Not Available

E-Mail :

sangita@thevanitycase.com

 

 

Factory:

Survey No.44 and 49, Village - Peddaipalli, Balangar Mandal Taluk Jadcheria, District-Mahabubnagar- 509202, Andhra Pradesh, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Asha Ramanlal Kothari

Designation :

Director

Address :

904-B Kukreja Palace, Vallbh Baug Lane Ghatkopar (East), Mumbai - 400075, Maharashtra, India

Date of Birth/Age :

12.01.195

Date of Appointment :

29.04.2003

DIN No.:

01149529

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U67120MH1984PTC033602

ASHMIN HOLDING AND LEASING PRIVATE LIMITED

Director

28/07/1984

28/07/1984

-

Active

NO

2

U63010MH1984PTC034806

ASHNIL MOVERS PRIVATE LIMITED

Director

28/09/1994

28/09/1994

12/8/2008

Active

NO

3

U24246MH2002PTC136107

ADENA COSMETICS PRIVATE LIMITED

Director

3/6/2002

3/6/2002

-

Active

NO

4

U24246MH2003PTC140203

AVALON COSMETICS PRIVATE LIMITED

Director

29/04/2003

29/04/2003

-

Active

NO

5

U24240MH2003PTC140868

ADONIA COSMETICS PRIVATE LIMITED

Director

12/6/2003

12/6/2003

-

Active

NO

6

U93090MH2003PTC143330

CHRISTINE VALMY INSTITUTE PRIVATE LIMITED

Director

1/12/2003

1/12/2003

27/01/2010

Active

NO

7

U24246MH2007PTC169097

VALIN COSMETICS PRIVATE LIMITED

Director

23/03/2007

23/03/2007

-

Active

NO

 

 

Name :

Sameer Ramanlal Kothari

Designation :

Director

Address :

904-B, Kukreja Palace,, Vallabh Baug Lane, Ghatkopar (East), Mumbai - 400075, Maharashtra, India

Date of Birth/Age :

23.08.1973

Date of Appointment :

29.04.2003

DIN No.:

01361343

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U63010MH1984PTC034806

ASHNIL MOVERS PRIVATE LIMITED

Director

1/7/1999

1/7/1999

12/8/2008

Active

NO

2

U99999MH1991PTC060775

MAHAK COSMETICS AND CREDIT PRIVATE LIMITED

Director

1/7/1999

1/7/1999

-

Active

NO

3

U67120MH1984PTC033602

ASHMIN HOLDING AND LEASING PRIVATE LIMITED

Director

1/7/1999

1/7/1999

-

Active

NO

4

U99999MH1986PTC041985

GLAMOOR COSMETICS PRIVATE LIMITED

Director

1/7/1999

1/7/1999

-

Active

NO

5

U72200MH2000PTC126936

THEVANITYCASE.COM (INDIA) PRIVATE LIMITED

Director

2/6/2000

2/6/2000

-

Active

NO

6

U24246MH2002PTC136107

ADENA COSMETICS PRIVATE LIMITED

Director

3/6/2002

3/6/2002

-

Active

NO

7

U24246MH2003PTC140203

AVALON COSMETICS PRIVATE LIMITED

Director

29/04/2003

29/04/2003

-

Active

NO

8

U24240MH2003PTC140868

ADONIA COSMETICS PRIVATE LIMITED

Director

12/6/2003

12/6/2003

-

Active

NO

9

U93090MH2003PTC143330

CHRISTINE VALMY INSTITUTE PRIVATE LIMITED

Director

1/12/2003

1/12/2003

-

Active

NO

10

U60100MH2005PTC151940

ALLIES LOGISTICS PRIVATE LIMITED

Director

14/03/2005

14/03/2005

-

Active

NO

11

U74999GA2012PTC006961

VANITY CASE INDIA PRIVATE LIMITED

Director

6/6/2012

6/6/2012

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Robin Dsouza

Designation :

Manager

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Asha Ramanlal Kothari

45000

37.91

Sameer Ramanlal Kothari

45000

37.91

Christine Gareli

1798

1.51

Vanity Case India Private Limited

26911

22.67

Total

118709

100.00

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

1.51

Directors or relatives of Directors

98.49

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Cosmetics products.

 

 

Products :

Cosmetics products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :
  • The Shamrao Vithal Co-Operative Bank Limited, SVC Tower, Ground Floor, Nehru Road, Vakola, Sanvakola, San Vakola, Santacruz (East), Mumbai - 400055, Maharashtra, India
  • Small Industries Development Bank of India, MSME Development Centre, First Floor,Plot- C-11, 'G' Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India
  • Oriental Bank of Commerce, Main Bazar, Paonta Sahib, District Sirmour,  District Sirmour - 173025, Himachal Pradesh, India

 

Banker Name

ICICI Bank Limited

Branch Address

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Rupee Term Loan From Banks

--

255.295

SHORT TERM BORROWING

 

 

Other Loans and Advances

--

55.441

Total

 

310.736

 

Auditors :

 

Name :

Shyam Malpani and Associates

Chartered Accountants

Address :

307,Chartered House, 297/299, Dr. C H Street, Near Marine Lines Church, Mumbai – 400002, Maharashtra, India

Tel. No.:

91-22-40311900

Fax No.:

91-22-40311901

Website:

http://www.smalpani.com 

PAN N Income-tax PAN of auditor or auditor's firm :

AADPM2684D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

118709

Equity Shares

Rs.10/- each

Rs.1.187 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

1.187

1.187

0.917

(b) Reserves & Surplus

281.456

265.167

235.030

(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)

282.643

266.354

235.947

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

525.341

255.295

156.550

(b) Deferred tax liabilities (Net)

30.212

4.843

4.858

(c) Other long term liabilities

1.840

1.648

0.000

(d) long-term provisions

0.000

0.000

1.174

Total Non-current Liabilities (3)

557.393

261.786

162.582

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

116.991

55.441

63.007

(b) Trade payables

147.545

177.549

158.513

(c) Other current liabilities

130.966

91.732

58.030

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

395.502

324.722

279.550

 

 

 

 

TOTAL

1235.538

852.862

678.079

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

885.145

161.236

163.733

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

318.090

144.870

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

101.665

50.692

49.188

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

11.148

5.263

22.371

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

997.958

535.281

380.162

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

56.871

196.755

165.537

(c) Trade receivables

103.728

63.203

81.430

(d) Cash and cash equivalents

17.761

9.101

13.651

(e) Short-term loans and advances

45.698

21.954

19.521

(f) Other current assets

13.522

26.568

26.778

Total Current Assets

237.580

317.581

306.917

 

 

 

 

TOTAL

1235.538

852.862

687.079

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Gross Receipts

938.822

1071.755

941.974

 

Other Income

 NA

 NA

 NA

 

TOTAL

 NA

 NA

 NA

 

 

 

 

 

EXPENSES

 NA

 NA

 NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

52.158

35.668

35.109

 

 

 

 

 

 

TAX

10.500

6.150

6.400

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER

16.829

29.533

29.259

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

259.557

230.497

201.482

 

 

 

 

 

 

Balance Carried to the B/S

276.386

260.030

230.741

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

141.77 

248.78

246.48

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Gross Receipts)

(%)

1.79

2.76

3.11

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.60

7.37

7.12

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.18

0.13

0.15

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.27

1.17

0.93

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.60

0.98

1.10

 

 

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

0.917

1.187

1.187

Reserves & Surplus

235.030

265.167

281.456

Net worth

235.947

266.354

282.643

 

 

 

 

long-term borrowings

156.550

255.295

525.341

Short term borrowings

63.007

55.441

116.991

Total borrowings

219.557

310.736

642.332

Debt/Equity ratio

0.931

1.167

2.273

 

 

 

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)

Gross Receipts

941.974

1071.755

938.822

 

 

13.778

(12.403)

 

 

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

941.974

1071.755

938.822

Profit

29.259

29.533

16.829

 

3.11%

2.76%

1.79%

 

 

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

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last 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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from 158, Dani Compound, C.S.T. Road Kalina, Santacruz (East) Mumbai – 400098, Maharashtra, India to the present address w.e.f. 03.01.2014

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

Service Request Number (SRN)

1

10592545

09/09/2015

275,300,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

C64945769

2

10571047

26/05/2015

38,500,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

C54432448

3

10470905

10/01/2014

170,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

B93785376

4

10470906

30/06/2015 *

35,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

C58932823

5

10461373

29/10/2013

148,700,000.00

THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED.

SVC TOWER, GROUND FLOOR, NEHRU ROAD, VAKOLA, SAN
VAKOLA, SAN VAKOLA, SANTACRUZ(EAST), MUMBAI, MAHA 
RASHTRA - 400055, INDIA

B90017385

6

10461367

28/10/2013

400,000,000.00

THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED

SVC TOWER, GROUND FLOOR, NEHRU ROAD, VAKOLA,, SAN 
VAKOLA, SAN VAKOLA, SANTACRUZ(EAST), MUMBAI, MAHARASHTRA - 400055, INDIA

B90016288

7

10454643

13/10/2014 *

70,000,000.00

THE SHAMRAO VITHAL COOPERATIVE BANK LIMITED

SVC TOWER, GROUND FLOOR, NEHRU ROAD, VAKOLA, SAN 
TACRUZ (EAST), MUMBAI, MAHARASHTRA - 400055, INDIA

C31602543

8

10452416

10/09/2013

4,500,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA

B86405321

9

10360991

21/05/2012

15,000,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

MSME DEVELOPMENT CENTRE, FIRST FLOOR,PLOT- C-11, 
'G' BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA

B41782996

10

10360999

05/09/2012 *

56,000,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

MSME DEVELOPMENT CENTRE, FIRST FLOOR,PLOT- C-11, 
'G' BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA

B58178450

 

* Date of charge modification

 

 

FIXED ASSETS

 

Tangible assets

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 records 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.64.89

UK Pound

1

Rs.100.39

Euro

1

Rs.73.52

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

GTA

 

 

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

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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.