MIRA
INFORM REPORT
|
Report No. : |
346307 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VILAS TRANSCORE LIMITED (w.e.f. 09.04.2011) |
|
|
|
|
Formerly Known
As : |
VILAS TRANSCORE PRIVATE LIMITED (w.e.f. 15.03.2007) BRAVIL POWERCORE PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Plot No. 435 to 437, 440, 453, 457, Near Galaxy Hotel, N H No. 8,
Village – Por, Vadodara – 391243, |
|
Tel. No.: |
91- 265-2831858/54 |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.11.2006 |
|
|
|
|
Com. Reg. No.: |
04-049469 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.30.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31102GJ2006PLC049469 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDV01119G |
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|
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PAN No.: [Permanent Account No.] |
AACCV4397A |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Transformer Laminations Silicon Coils and Transformer Cores. |
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|
|
No. of Employees
: |
250 (Approximately) |
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 |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2006 and it is a manufacturer,
exporter and importer of transformers and lamination silicon coils. For the financial year ended 2014, company has reported marginal
increase of 5.24% in its revenue profile and it has maintained above average
profitability margins at 3.53% during the year under a review. Rating favorably factor in the longstanding experience and established
track record of the promoters in the transformer industry supported by
company’s sound financial profile along with improvement in capital structure
and debt coverage indicators. However, rating strength partially offset by highly fragmented nature
of the transformer industry leading to intense competition from organized as
well as unorganized players, vulnerability of profitability to raw material
price fluctuations and foreign currency exchange rate fluctuations. 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.
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 |
ICRA |
|
Rating |
Cash credit: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
September, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Letter of credit: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
September, 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Kalpesh Shah |
|
Designation : |
Vice President |
|
Contact No.: |
91-9328026767 |
|
Date : |
20.10.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No. 435 to 437, 440, 453, 457, Near Galaxy Hotel, N H No. 8,
Village – Por, Vadodara – 391243, Gujarat, India |
|
Tel. No.: |
91- 265-2831858/54 |
|
Mobile No.: |
91-9328026767 (Mr. Kalpesh Shah) |
|
Fax No.: |
91-265-2357805/3299797 |
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E-Mail : |
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Website : |
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Administrative
Office : |
103 A Wing, Radhakrishna Flats, Near Akota Garden, Akota, Vadodara – 390020, Gujarat, India |
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|
|
Factory 2 : |
283-285, G.I.D.C. N.H. 8, Por-Ramangamdi Industrial Estate District -
Vadodara 391243, Gujarat, India |
|
Tel. No.: |
91-265-2830718 / 2830719 |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Nilesh Jitubhai Patel |
|
Designation : |
Director |
|
Address : |
26-A-B, Javerchand Park-2, Old Padra Road, Vadodara – 390020, Gujarat,
India |
|
Date of Birth/Age : |
28.10.1973 |
|
Date of Appointment : |
28.11.2006 |
|
PAN: |
ACQPP6432M |
|
DIN No.: |
00447907 |
|
|
|
|
Name : |
Mr. Jayesh Nandkishor Patel |
|
Designation : |
Director |
|
Address : |
2A, Sadhana Nagar Society, Karelibaug, Vadodara – 390018, Gujarat,
India |
|
Date of Birth/Age : |
22.05.1973 |
|
Date of Appointment : |
29.12.2012 |
|
DIN No.: |
00443118 |
|
|
|
|
Name : |
Mr. Manishbhai Jitubhai Patel |
|
Designation : |
Additional Director |
|
Address : |
A-4, Sonal Park Society, B/H Yash Comp, Gotri Road, Vadodara – 390021,
Gujarat, India |
|
Date of Birth/Age : |
14.08.1969 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
02997878 |
KEY EXECUTIVES
|
Name : |
Mr. Kalpesh Shah |
|
Designation : |
Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Nilesh Jitubhai Patel |
2998950 |
|
Lilaben J Patel |
1000 |
|
Manish J Patel |
10 |
|
Dimple Patel |
10 |
|
Sandeep Patel |
10 |
|
Kalpesh Shah |
10 |
|
Neerag Bharara |
10 |
|
|
|
|
Total |
3000000 |
As on: 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Transformer Laminations Silicon Coils and Transformer Cores. |
|
|
|
|
Products : |
· CRGO Laminations ·
Cores and Coils. |
|
|
|
|
Brand Names : |
Not Available |
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|
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|
Agencies Held : |
Not Available |
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Exports : |
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|
Products : |
· CRGO Laminations ·
Cores and Coils. |
|
Countries : |
·
Bangladesh ·
Pakistan ·
Turkey ·
Canada |
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|
|
|
Imports : |
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|
Products : |
Raw Material |
|
Countries : |
·
China ·
Japan ·
Germany ·
Nepal |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
250 (Approximately) |
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Bankers : |
· ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara - 390015, Gujarat, India
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Facilities : |
NOTE: NATURE OF SECURITY The Bank Facilities from ICICI Bank (Cash Credit) and Buyers' Credit as sub-limit of LC Limit accepted by them are secured by hypothecation of Company’s entire Stocks of Raw Materials, Semi-Finished and Finished Goods, Consumable Stores and Spares and such other movables including Book-Debts and Receivables (both present and future). The facilities are further secured by Fixed Deposits and personal guarantee of two Directors of the Company. The Buyers Credit availed by the Company from foreign
banks are secured by counter-guarantee by ICICI Bank given to the said
foreign banks against and within the LC Limits sanctioned by ICICI Bank to
the Company. They bear a maximum nuisance period of 300 days and rate of
interest is charged based on LIBOR from time to time. |
|
Auditors : |
|
|
Name : |
Naresh and Company Chartered Accountants |
|
Address : |
201-202 City Enclave, Opposite Polo Ground, Bagikhana, Vadodara –
390001, Gujarat |
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PAN No.: |
AACFM7595C |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other related Parties: |
· Pelton Power Tech Private Limited · Jayesh Electricals Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
353.407 |
316.778 |
282.499 |
|
(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) |
383.407 |
346.778 |
312.499 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
181.226 |
180.193 |
155.324 |
|
(b) Deferred tax liabilities (Net) |
24.117 |
21.264 |
15.090 |
|
(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) |
205.343 |
201.457 |
170.414 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
25.371 |
125.390 |
162.576 |
|
(b) Trade payables |
168.751 |
137.323 |
124.347 |
|
(c) Other current
liabilities |
8.819 |
13.327 |
25.987 |
|
(d) Short-term provisions |
17.711 |
12.934 |
18.931 |
|
Total Current Liabilities (4) |
220.652 |
288.974 |
331.841 |
|
|
|
|
|
|
TOTAL |
809.402 |
837.209 |
814.754 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
200.578 |
211.289 |
194.726 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.438 |
0.438 |
0.501 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
|
0.000 |
|
(d) Long-term Loan and Advances |
0.854 |
0.859 |
4.095 |
|
(e) Other Non-current assets |
1.781 |
27.026 |
16.492 |
|
Total Non-Current Assets |
203.651 |
239.612 |
215.814 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
97.688 |
128.777 |
127.490 |
|
(c) Trade receivables |
331.518 |
292.223 |
323.114 |
|
(d) Cash and cash
equivalents |
116.038 |
77.101 |
50.096 |
|
(e) Short-term loans and
advances |
60.507 |
99.496 |
98.125 |
|
(f) Other current assets |
0.000 |
0.000 |
0.115 |
|
Total Current Assets |
605.751 |
597.597 |
598.940 |
|
|
|
|
|
|
TOTAL |
809.402 |
837.209 |
814.754 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1036.442 |
986.452 |
1128.100 |
|
|
|
Other Income |
8.368 |
5.711 |
3.546 |
|
|
|
TOTAL |
1044.810 |
992.163 |
1131.646 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
782.493 |
786.155 |
862.800 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
31.410 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
31.423 |
(2.511) |
1.513 |
|
|
|
Extraordinary Item |
0.094 |
0.106 |
0.095 |
|
|
|
Employees benefits expense |
32.020 |
32.905 |
40.939 |
|
|
|
Other expenses |
75.995 |
72.697 |
64.348 |
|
|
|
TOTAL
|
922.025 |
889.352 |
1001.105 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
122.785 |
102.811 |
130.541 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
54.186 |
38.703 |
44.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
68.599 |
64.108 |
85.947 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.317 |
11.805 |
6.777 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
56.282 |
52.303 |
79.170 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
19.653 |
18.024 |
24.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
36.629 |
34.279 |
54.549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.004 |
0.046 |
4.193 |
|
|
TOTAL EARNINGS |
0.004 |
0.046 |
4.193 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
441.506 |
668.180 |
583.635 |
|
|
TOTAL IMPORTS |
441.506 |
668.180 |
583.635 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.11 |
11.34 |
18.00 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.869 |
10.951 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
189.514 |
114.669 |
48.761 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin
(PAT / Sales) |
(%) |
3.53 |
3.47 |
4.84 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.85 |
10.42 |
11.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.96 |
6.25 |
9.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.15 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54 |
0.88 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.75 |
2.07 |
1.80 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
282.499 |
316.778 |
353.407 |
|
Net worth |
312.499 |
346.778 |
383.407 |
|
|
|
|
|
|
long-term borrowings |
155.324 |
180.193 |
181.226 |
|
Short term borrowings |
162.576 |
125.390 |
25.371 |
|
Current Maturities of
Long-Term Debts |
10.951 |
0.869 |
0.000 |
|
Total
borrowings |
328.851 |
306.452 |
206.597 |
|
Debt/Equity
ratio |
1.052 |
0.884 |
0.539 |
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 |
1128.100 |
986.452 |
1036.442 |
|
|
|
(12.556) |
5.068 |
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 |
1128.100 |
986.452 |
1036.442 |
|
Profit |
54.549 |
34.279 |
36.629 |
|
|
4.84% |
3.47% |
3.53% |
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 |
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 2nd Floor, Savorite Complex, Opposite Navneet Park, Near SNDT College, Old Padra Road, Vadodara – 390020, Gujarat, India to the present address
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From related parties |
74.026 |
71.027 |
|
|
|
|
|
Total |
74.026 |
71.027 |
INDEX OF CAHREGS
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10578449 |
11/06/2015 |
200,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C58187832 |
|
2 |
10289362 |
26/05/2011 |
11,200,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B13936125 |
|
3 |
10289455 |
13/11/2014 * |
440,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C39143433 |
* Date of charge modification
FINANCIAL RESULTS
Their Company is principally carrying out the business of manufacturing of lamination, cores, transformers and related products. The Company has achieved a turnover of Rs. 1036.442 Million which, though only about 5% higher compared to earlier year in terms of value and in terms of volume also, meant it re-achieved the Rs. 1000.000 Million mark. Due to the slow global economic recovery and the sluggish power sector it was only with aggressive strategies on various fronts and the relentless efforts of the Directors that the Company managed to register the above growth. This shows that the Company has continued on its growth path and speaks volumes about the growth feat achieved by the Company despite negative factors.
Unfortunately the rapid weakening and depreciation of rupee against the US Dollar by almost 10% within a single year resulted in huge forex losses since they are a principally import based company. The rapidness of decline was unexpected and resulted in substantial wash-out of the profits of the year. Total forex loss was more than Rs. 36.700 Million which included about Rs. 11.800 Million on forex borrowings and about Rs. 24.900 Million on import transactions. This couple with the normal increase in costs meant that despite healthy operating profit and volume growth, the net profit increased only nominally to Rs. 56.376 Million from Rs. 52.408 Million
All in all it was another difficult year on account of huge forex losses with very few favourable factors and numerous negative factors. However, net PAT of Rs. 36.629 Million was good in the sense that it as a growth over preceding year and still reasonable considering the extremely tough year on all fronts and management is happy to have achieved the same in view of the overall scenario and numerous negative factors for the segment to which our Company belongs.
For the coming year, the outlook in very positive. The year will once again be tough in terms of volume but with the current and potential order book and relentless efforts, they still expect to be able to retain our top line in the coming year and in all probability register a growth both in terms of volume and value. Also effect of the negative factors such as falling materials price are expected to moderate out in the coming year. But the continued negativity in rupee-dollar equation will hurt substantially. The early part of the year has seen a drastic depreciation in rupee from around Rs. 60 per dollar to lows of around Rs. 63 per dollar which has already resulted in huge forex losses. They are hoping for the same to reduce and stabilize to enable us to recoup some losses and control further losses. Our hedging strategies are also being re-looked. The margins will also remain weak on account of competition, but with the enhanced turnover and better cost and forex management, they will try and even it out in terms of impact on profitability.
Overall it is expected to be a positive year for growth but
may not be very good in terms of profitability. However, with a combination of
efficient production, timely delivery, aggressive strategies on various fronts
and the relentless efforts they shall definitely do our best to deliver a
better year ahead both in terms of top line and profit growth.
CONTINGENT
LIABILITIES
|
PARTICULARS |
31.03.2014 (Rs. in Million) |
|
Other money for which company is contingently liable |
17.225 |
|
|
|
|
Total |
17.225 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Tools and Equipment
·
Air conditioner
·
Air cooler Fax Machinery
·
Mobile Phone
·
Office Equipment
·
Tyre Writer
·
Computer
·
Furniture and Fixture
·
Cycle
·
Vehicle
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.65.15 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.